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

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 75.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,999 shares of the technology company's stock after selling 198,045 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Atlassian were worth $16,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Atlassian during the 3rd quarter worth approximately $606,000. Fulton Bank N.A. acquired a new position in Atlassian during the 4th quarter worth approximately $447,000. Paloma Partners Management Co acquired a new position in Atlassian during the 3rd quarter worth approximately $1,588,000. Allworth Financial LP raised its stake in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares during the period. Finally, Parnassus Investments LLC raised its stake in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company's stock worth $51,016,000 after buying an additional 245,286 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler upped their price target on Atlassian from $310.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group raised their target price on Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, January 31st. KeyCorp raised their target price on Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company raised their target price on Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Mizuho raised their target price on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $319.71.

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Insider Activity

In other news, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total value of $2,053,206.84. Following the completion of the transaction, the director now owns 63,584 shares of the company's stock, valued at approximately $16,425,654.72. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,553 shares of company stock worth $71,956,546. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

NASDAQ:TEAM traded down $1.53 during trading hours on Tuesday, reaching $219.45. The stock had a trading volume of 2,419,058 shares, compared to its average volume of 1,938,063. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $272.77 and a 200 day simple moving average of $235.08. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market cap of $57.50 billion, a P/E ratio of -163.77 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. On average, research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.