Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• Fjarde AP Fonden boosted its Atlassian stake by 69.4% in Q1, adding 25,400 shares to bring its total to 62,000 shares worth about $4.23 million.
• Atlassian reported better-than-expected quarterly results, with EPS of $1.75 versus $1.33 expected and revenue of $1.79 billion topping estimates. Revenue rose 31.7% year over year.
• Despite the strong earnings beat, several analysts trimmed price targets, though the stock still carries a consensus rating of Moderate Buy with an average target price of $145.26.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 69.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the technology company's stock after buying an additional 25,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Atlassian were worth $4,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Atlassian by 12.0% in the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company's stock worth $100,000 after acquiring an additional 66 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company's stock worth $907,000 after purchasing an additional 71 shares during the period. Financial Perspectives Inc raised its stake in Atlassian by 11.7% during the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company's stock worth $116,000 after acquiring an additional 75 shares during the period. Slow Capital Inc. lifted its holdings in Atlassian by 0.3% in the fourth quarter. Slow Capital Inc. now owns 33,486 shares of the technology company's stock worth $5,429,000 after acquiring an additional 84 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Atlassian by 3.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 3,079 shares of the technology company's stock valued at $499,000 after purchasing an additional 89 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO James Chuong sold 8,838 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the transaction, the executive directly owned 227,691 shares in the company, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is owned by company insiders.

Atlassian Price Performance

NASDAQ TEAM opened at $89.24 on Tuesday. The company has a 50 day simple moving average of $86.71 and a 200-day simple moving average of $95.95. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of -107.23, a price-to-earnings-growth ratio of 4.73 and a beta of 1.11. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm's revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Equities research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEAM. KeyCorp reduced their price target on shares of Atlassian from $170.00 to $130.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Robert W. Baird set a $120.00 target price on Atlassian in a research report on Friday, May 1st. Morgan Stanley cut their target price on Atlassian from $290.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. BTIG Research raised their price target on Atlassian from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, BMO Capital Markets cut their target price on Atlassian from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Twenty-one investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.26.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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