Swiss National Bank Lowers Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Swiss National Bank lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,067 shares of the technology company's stock after selling 20,800 shares during the quarter. Swiss National Bank owned approximately 0.17% of Atlassian worth $110,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares in the last quarter. Assetmark Inc. grew its stake in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC bought a new position in Atlassian in the fourth quarter worth $49,000. Finally, Kestra Investment Management LLC purchased a new position in Atlassian during the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TEAM shares. Cantor Fitzgerald upped their target price on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Macquarie raised their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. UBS Group lifted their target price on shares of Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Stephens started coverage on Atlassian in a research note on Wednesday. They issued an "equal weight" rating and a $255.00 price target on the stock. Finally, Jefferies Financial Group lifted their price objective on Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.77.

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Insider Activity at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now owns 211,991 shares of the company's stock, valued at $54,006,827.16. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $255.22, for a total value of $2,028,488.56. Following the completion of the transaction, the chief executive officer now directly owns 47,688 shares in the company, valued at approximately $12,170,931.36. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,605 shares of company stock worth $69,903,340. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

Shares of TEAM stock traded up $10.41 on Wednesday, reaching $229.86. The stock had a trading volume of 3,163,294 shares, compared to its average volume of 1,943,061. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market cap of $60.22 billion, a P/E ratio of -171.54 and a beta of 0.91. The company has a 50 day simple moving average of $272.20 and a 200 day simple moving average of $235.46.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Atlassian Company 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.