Swedbank AB Has $16.54 Million Position in Atlassian Co. (NASDAQ:TEAM)

Swedbank AB increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,974 shares of the technology company’s stock after buying an additional 4,439 shares during the period. Swedbank AB’s holdings in Atlassian were worth $16,544,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter valued at about $48,000. Quarry LP increased its stake in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday. Canaccord Genuity Group lifted their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday. Raymond James reissued an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a research report on Friday. Finally, Piper Sandler upped their target price on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.00.

Atlassian Stock Performance

Shares of TEAM opened at $306.78 on Friday. The firm has a market capitalization of $79.89 billion, a P/E ratio of -201.83 and a beta of 0.83. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The stock has a 50 day moving average price of $260.51 and a two-hundred day moving average price of $208.06. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Equities analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $270.63, for a total value of $2,150,967.24. Following the completion of the transaction, the director now directly owns 333,816 shares of the company’s stock, valued at $90,340,624.08. This represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 785 shares of Atlassian stock in a transaction on Monday, November 11th. The stock was sold at an average price of $240.00, for a total value of $188,400.00. Following the sale, the chief accounting officer now owns 57,938 shares in the company, valued at $13,905,120. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 257,156 shares of company stock worth $65,313,573. 38.55% of the stock is owned by insiders.

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.