Atlassian Corporation PLC (NASDAQ:TEAM) Shares Bought by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Atlassian Corporation PLC by 45.2%, owning a total of 94,401 shares valued at approximately $20 million after acquiring an additional 29,402 shares.
• 94.45% of Atlassian's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Atlassian's latest earnings report revealed an EPS of $0.97, beating expectations, with revenue of $1.36 billion which is a 14.1% increase year-over-year.

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 45.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,401 shares of the technology company's stock after purchasing an additional 29,402 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Atlassian were worth $20,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Baillie Gifford & Co. grew its position in Atlassian by 7.1% during the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after buying an additional 573,696 shares during the period. Pacer Advisors Inc. grew its position in Atlassian by 186.2% during the first quarter. Pacer Advisors Inc. now owns 147,316 shares of the technology company's stock worth $31,262,000 after buying an additional 95,835 shares during the period. Neo Ivy Capital Management acquired a new position in Atlassian during the first quarter worth about $1,952,000. Cetera Investment Advisers grew its position in Atlassian by 19.8% during the first quarter. Cetera Investment Advisers now owns 24,729 shares of the technology company's stock worth $5,248,000 after buying an additional 4,090 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in Atlassian by 47.3% during the first quarter. Avantax Advisory Services Inc. now owns 4,361 shares of the technology company's stock worth $926,000 after buying an additional 1,401 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

TEAM traded down $1.72 during trading hours on Tuesday, hitting $200.12. The stock had a trading volume of 1,028,084 shares, compared to its average volume of 2,294,774. The company's fifty day simple moving average is $203.64 and its 200 day simple moving average is $229.81. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market cap of $52.53 billion, a PE ratio of -120.55 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on TEAM shares. BMO Capital Markets reduced their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Mizuho reduced their price target on shares of Atlassian from $290.00 to $265.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Finally, Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $274.05.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $222.47, for a total value of $1,768,191.56. Following the sale, the chief executive officer owned 143,064 shares of the company's stock, valued at $31,827,448.08. The trade was a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40. Following the transaction, the director directly owned 174,856 shares in the company, valued at approximately $36,160,220.80. This represents a 4.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,253 shares of company stock worth $98,475,378. Insiders own 38.55% of the company's stock.

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.