Skandinaviska Enskilda Banken AB publ Sells 198,045 Shares of Atlassian Co. (NASDAQ:TEAM)

Skandinaviska Enskilda Banken AB publ lowered its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 75.3% during the fourth quarter, Holdings Channel reports. The firm owned 64,999 shares of the technology company’s stock after selling 198,045 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Atlassian were worth $16,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Principal Financial Group Inc. raised its holdings in shares of Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 4,099 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Atlassian by 18.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock valued at $224,000 after purchasing an additional 221 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Atlassian by 140.4% during the 3rd quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock valued at $767,000 after purchasing an additional 2,819 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Atlassian by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock valued at $58,165,000 after buying an additional 6,470 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Atlassian by 24.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock valued at $281,000 after buying an additional 347 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $208.00 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm has a market cap of $54.50 billion, a P/E ratio of -155.22 and a beta of 0.91. The firm’s 50-day simple moving average is $274.08 and its 200-day simple moving average is $233.34. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler raised their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Mizuho raised their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Barclays raised their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Macquarie raised their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24. Following the completion of the transaction, the chief executive officer now directly owns 79,480 shares of the company’s stock, valued at approximately $22,105,772.40. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,501 shares of company stock valued at $74,167,124 in the last ninety days. Insiders own 38.55% of the company’s stock.

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.