Skandinaviska Enskilda Banken AB publ Raises Stock Position in Atlassian Co. (NASDAQ:TEAM)

Skandinaviska Enskilda Banken AB publ grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 19.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 54,131 shares of the technology company’s stock after purchasing an additional 8,809 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Atlassian were worth $9,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Asset Dedication LLC grew its stake in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Hollencrest Capital Management increased its stake in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares during the period. Trust Co. of Vermont raised its holdings in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian in the second quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Atlassian during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $170.45, for a total value of $1,354,736.60. Following the completion of the sale, the chief executive officer now owns 15,896 shares in the company, valued at approximately $2,709,473.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’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 transaction of $133,000.00. Following the transaction, the president now owns 152,534 shares in the company, valued at approximately $26,693,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $170.45, for a total value of $1,354,736.60. Following the completion of the sale, the chief executive officer now directly owns 15,896 shares of the company’s stock, valued at $2,709,473.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 239,399 shares of company stock valued at $40,189,629. 40.48% of the stock is owned by company insiders.

Atlassian Stock Performance

NASDAQ TEAM opened at $163.08 on Friday. The firm has a market cap of $42.45 billion, a P/E ratio of -258.86 and a beta of 0.73. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. 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 quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last announced its 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 return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted ($0.21) EPS. The company’s revenue was up 20.5% on a year-over-year basis. On average, equities research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TEAM shares. Truist Financial decreased their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Robert W. Baird lowered shares of Atlassian from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. Finally, Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a research report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

Atlassian 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.