Atlassian Co. (NASDAQ:TEAM) Shares Bought by Swiss National Bank

Swiss National Bank boosted its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,867 shares of the technology company's stock after purchasing an additional 6,900 shares during the period. Swiss National Bank owned about 0.18% of Atlassian worth $75,096,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Asset Dedication LLC raised its position in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont increased its stake in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock worth $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in Atlassian in the 2nd quarter valued at $36,000. Crewe Advisors LLC acquired a new stake in shares of Atlassian during the 1st quarter worth $43,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after acquiring an additional 96 shares during the period. Institutional investors own 93.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TEAM shares. KeyCorp raised shares of Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 price objective for the company in a research note on Friday, November 1st. Barclays decreased their price target on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. UBS Group raised their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Raymond James increased their price target on Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Morgan Stanley lifted their price target on Atlassian from $216.00 to $224.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.21.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the completion of the sale, the chief executive officer now owns 500,724 shares of the company's stock, valued at $80,020,702.44. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 785 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,938 shares in the company, valued at approximately $13,905,120. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock worth $46,207,176 in the last 90 days. Insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of TEAM stock traded down $2.43 during trading hours on Wednesday, reaching $245.30. 1,219,954 shares of the company traded hands, compared to its average volume of 1,867,043. The firm has a 50-day moving average price of $191.18 and a 200 day moving average price of $175.45. The company has a market cap of $63.88 billion, a P/E ratio of -162.98 and a beta of 0.71. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts predict that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

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.