Swedbank AB Purchases 4,439 Shares of Atlassian Co. (NASDAQ:TEAM)

Swedbank AB raised its position in Atlassian Co. (NASDAQ:TEAM) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,974 shares of the technology company’s stock after acquiring an additional 4,439 shares during the period. Swedbank AB’s holdings in Atlassian were worth $16,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. GAMMA Investing LLC increased 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 in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the third quarter valued at approximately $48,000. Quarry LP lifted its stake in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TEAM. Jefferies Financial Group increased their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JMP Securities reissued a “market perform” rating on shares of Atlassian in a report on Friday. Mizuho lifted their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial reissued a “buy” rating and issued a $350.00 price target (up from $300.00) on shares of Atlassian in a report on Friday. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.00.

Insider Activity at Atlassian

In other Atlassian news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total transaction of $825,000.00. Following the completion of the transaction, the director now owns 5,610 shares of the company’s stock, valued at $1,542,750. This represents a 34.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the sale, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock worth $65,313,573 in the last three months. 38.55% of the stock is owned by insiders.

Atlassian Stock Up 14.9 %

Shares of NASDAQ TEAM opened at $306.78 on Friday. The stock 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 one year low of $135.29 and a one year high of $324.37. The firm’s 50 day simple moving average is $260.51 and its two-hundred day simple moving average is $208.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, analysts expect that Atlassian Co. will post -0.55 EPS for the current fiscal year.

About Atlassian

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.