Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its stake in Atlassian Co. (NASDAQ:TEAM) by 19.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,131 shares of the technology company’s stock after acquiring an additional 8,809 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Atlassian were worth $9,581,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new position in Atlassian in the second quarter valued at $91,072,000. Vanguard Group Inc. raised its position in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Atlassian during the 1st quarter worth about $55,307,000. Finally, Swedbank AB acquired a new stake in shares of Atlassian during the 1st quarter valued at about $50,923,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $163.08 on Friday. 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 business’s 50 day moving average price is $161.99 and its 200 day moving average price is $175.39. The company has a market cap of $42.45 billion, a price-to-earnings ratio of -258.86 and a beta of 0.73. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

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

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $175.00, for a total value of $133,000.00. Following the transaction, the president now directly owns 152,534 shares in the company, valued at $26,693,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total value of $133,000.00. Following the sale, the president now directly owns 152,534 shares in the company, valued at approximately $26,693,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $176.05, for a total transaction of $1,399,245.40. The disclosure for this sale can be found here. Insiders sold 239,399 shares of company stock worth $40,189,629 in the last 90 days. Insiders own 40.48% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of recent analyst reports. Mizuho lowered their price target on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Morgan Stanley decreased their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Truist Financial cut their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Scotiabank decreased their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.69.

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.