Swedbank AB Raises Position in Atlassian Co. (NASDAQ:TEAM)

Swedbank AB grew its position in shares of Atlassian Co. (NASDAQ:TEAM) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,535 shares of the technology company’s stock after buying an additional 2,539 shares during the quarter. Swedbank AB’s holdings in Atlassian were worth $10,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Dedication LLC boosted its stake in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian in the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC lifted its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08. Following the sale, the director now directly owns 413,296 shares of the company’s stock, valued at $78,509,708.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,425 shares of company stock valued at $38,058,262 in the last three months. 40.48% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 0.4 %

TEAM opened at $188.50 on Friday. The stock has a market cap of $49.02 billion, a price-to-earnings ratio of -162.50 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s fifty day moving average is $163.90 and its 200 day moving average is $171.91. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned ($0.21) earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEAM. Morgan Stanley lifted their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. BMO Capital Markets decreased their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a research note on Monday, September 23rd. Mizuho upped their price objective on Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Scotiabank dropped their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $215.12.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.