Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Swedbank AB

Swedbank AB lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,535 shares of the technology company’s stock after acquiring an additional 2,539 shares during the period. Swedbank AB’s holdings in Atlassian were worth $10,090,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after buying an additional 78,454 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian during the second quarter worth about $469,803,000. Bank of New York Mellon Corp increased its position in shares of Atlassian by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock worth $138,619,000 after purchasing an additional 26,555 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Atlassian by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock valued at $92,678,000 after purchasing an additional 12,422 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at about $91,072,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28. Following the sale, the chief executive officer now directly owns 158,960 shares in the company, valued at $26,444,585.60. This represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of Atlassian stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the transaction, the chief technology officer now owns 204,109 shares of the company’s stock, valued at $38,780,710. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,694 shares of company stock worth $49,802,725 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research reports. Piper Sandler boosted their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays lowered their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Trading Up 0.5 %

Shares of TEAM opened at $262.23 on Wednesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $68.29 billion, a P/E ratio of -172.52 and a beta of 0.71. The firm’s 50-day moving average is $200.51 and its two-hundred day moving average is $178.12.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. On average, research analysts predict that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

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.