Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Swedbank AB

Swedbank AB boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,535 shares of the technology company's stock after buying an additional 2,539 shares during the period. Swedbank AB's holdings in Atlassian were worth $10,090,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its position in Atlassian by 72.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,998 shares of the technology company's stock valued at $604,000 after purchasing an additional 1,257 shares during the period. Tidal Investments LLC boosted its position in shares of Atlassian by 10.0% during the 1st quarter. Tidal Investments LLC now owns 4,085 shares of the technology company's stock worth $797,000 after purchasing an additional 373 shares during the period. iA Global Asset Management Inc. increased its holdings in Atlassian by 4.6% in the 1st quarter. iA Global Asset Management Inc. now owns 18,414 shares of the technology company's stock valued at $3,593,000 after purchasing an additional 811 shares during the last quarter. Rokos Capital Management LLP raised its position in Atlassian by 523.5% in the first quarter. Rokos Capital Management LLP now owns 182,885 shares of the technology company's stock valued at $35,683,000 after purchasing an additional 153,553 shares during the period. Finally, Virtu Financial LLC acquired a new position in Atlassian during the first quarter worth $631,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of TEAM opened at $262.23 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $269.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company's fifty day moving average is $200.51 and its two-hundred day moving average is $178.12.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.07) earnings per share. Atlassian's quarterly revenue was up 21.5% compared to the same quarter last year. On average, analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KeyCorp upgraded Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price for the company in a report on Friday, November 1st. UBS Group upped their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Oppenheimer raised their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on Atlassian from $225.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on Atlassian from $250.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.21.

Insider Buying and Selling

In related news, CAO Gene Liu sold 1,024 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company's stock, valued at $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock worth $49,802,725 in the last ninety days. Insiders own 38.55% of the company's stock.

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.