Swiss National Bank Has $96.66 Million Position 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 boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 455,467 shares of the technology company's stock after purchasing 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 have also recently added to or reduced their stakes in the company. Clean Yield Group boosted its position in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the period. Colonial Trust Co SC lifted its position in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after acquiring an additional 69 shares during the period. Smithfield Trust Co lifted its position in shares of Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after acquiring an additional 78 shares during the period. GeoWealth Management LLC lifted its position in shares of Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after acquiring an additional 38 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Atlassian by 82.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after purchasing an additional 110 shares during the period. Institutional investors own 94.45% of the company's stock.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $210.81, for a total value of $1,675,517.88. Following the sale, the chief executive officer owned 63,584 shares in the company, valued at approximately $13,404,143.04. The trade was a 11.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $206.57, for a total value of $1,641,818.36. Following the sale, the director owned 71,532 shares in the company, valued at approximately $14,776,365.24. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,685 shares of company stock worth $103,587,091 in the last quarter. 38.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Barclays reduced their target price on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company reduced their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Mizuho set a $235.00 target price on Atlassian and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Truist Financial set a $230.00 price objective on Atlassian in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $259.76.

Atlassian Trading Up 0.1%

TEAM traded up $0.24 during midday trading on Thursday, reaching $164.23. 1,589,101 shares of the company were exchanged, compared to its average volume of 2,396,370. Atlassian Corporation PLC has a one year low of $144.85 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $43.11 billion, a P/E ratio of -165.99 and a beta of 0.96. The stock's 50-day simple moving average is $196.47 and its 200 day simple moving average is $223.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share 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 business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the business posted $0.66 EPS. Atlassian's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, analysts forecast 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.