Skandinaviska Enskilda Banken AB publ Increases Stock Position in Atlassian Corporation PLC $TEAM

Skandinaviska Enskilda Banken AB publ grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 45.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,345 shares of the technology company’s stock after buying an additional 47,943 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of Atlassian worth $24,337,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TEAM. Southeast Asset Advisors LLC purchased a new stake in shares of Atlassian during the 3rd quarter valued at $403,000. Vanguard Group Inc. raised its position in Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after purchasing an additional 1,049,483 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Atlassian by 6.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,773 shares of the technology company’s stock worth $9,386,000 after purchasing an additional 3,634 shares during the last quarter. ABN Amro Investment Solutions boosted its holdings in shares of Atlassian by 3.4% in the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after purchasing an additional 80 shares in the last quarter. Finally, Aberdeen Group plc increased its position in shares of Atlassian by 5.0% during the 3rd quarter. Aberdeen Group plc now owns 114,778 shares of the technology company’s stock valued at $18,330,000 after purchasing an additional 5,511 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $82.15 on Wednesday. The company’s fifty day simple moving average is $134.67 and its two-hundred day simple moving average is $152.46. Atlassian Corporation PLC has a 12-month low of $80.40 and a 12-month high of $316.99. The firm has a market cap of $21.61 billion, a PE ratio of -114.10, a price-to-earnings-growth ratio of 70.43 and a beta of 0.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Atlassian’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the transaction, the chief executive officer directly owned 275,940 shares of the company’s stock, valued at approximately $26,161,871.40. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the transaction, the director owned 275,940 shares of the company’s stock, valued at approximately $26,161,871.40. This represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 475,758 shares of company stock worth $68,994,874. Corporate insiders own 36.66% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of recent research reports. Canaccord Genuity Group set a $185.00 target price on Atlassian in a research report on Friday, February 6th. Robert W. Baird set a $140.00 price objective on shares of Atlassian in a report on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and set a $105.00 target price on shares of Atlassian in a report on Friday, February 6th. Jefferies Financial Group set a $150.00 target price on shares of Atlassian in a research report on Friday, February 6th. Finally, Barclays cut their price target on shares of Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.32.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.