Swiss National Bank Increases Stake in Atlassian Corporation PLC (NASDAQ:TEAM)

Key Points

• Swiss National Bank increased its stake in Atlassian by 0.8%, now holding approximately 455,467 shares valued at $96.7 million.
• Several large investors, including Voya Investment Management and Durable Capital Partners, significantly boosted their stakes, with Voya's position growing by nearly 18,000% last quarter.
• Atlassian reported a quarterly earnings per share (EPS) of $0.98, surpassing estimates, with revenue growth of 22.3% year-over-year, despite a negative net margin.

Swiss National Bank raised its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 455,467 shares of the technology company's stock after buying an additional 3,400 shares during the quarter. Swiss National Bank owned about 0.17% of Atlassian worth $96,655,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Atlassian by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after buying an additional 580,583 shares during the period. Baillie Gifford & Co. grew its position in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after buying an additional 573,696 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Atlassian by 21.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after buying an additional 616,071 shares in the last quarter. Voya Investment Management LLC grew its position in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. Finally, Durable Capital Partners LP grew its position in Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after buying an additional 1,312,820 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $163.51, for a total transaction of $1,253,304.15. Following the completion of the transaction, the director owned 268,275 shares in the company, valued at approximately $43,865,645.25. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $163.51, for a total transaction of $1,253,304.15. Following the completion of the sale, the chief executive officer directly owned 268,275 shares in the company, valued at approximately $43,865,645.25. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 544,823 shares of company stock valued at $109,705,869 over the last three months. 38.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TEAM shares. Stephens decreased their target price on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research report on Monday. Truist Financial set a $230.00 target price on shares of Atlassian in a research report on Friday. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, Macquarie reduced their price objective on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $259.76.

Atlassian Trading Down 0.8%

TEAM stock traded down $1.28 during trading on Tuesday, hitting $158.00. The company had a trading volume of 5,758,007 shares, compared to its average volume of 2,531,947. The business has a 50-day moving average of $197.41 and a 200-day moving average of $224.37. Atlassian Corporation PLC has a one year low of $139.23 and a one year high of $326.00. The stock has a market cap of $41.48 billion, a PE ratio of -159.59 and a beta of 0.96. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The company's revenue was up 22.3% compared to the same quarter last year. Research analysts predict that Atlassian Corporation PLC will post -0.34 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.