Swiss National Bank Acquires 37,500 Shares of Atlassian Corporation PLC $TEAM

Swiss National Bank raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 8.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 493,267 shares of the technology company’s stock after purchasing an additional 37,500 shares during the period. Swiss National Bank’s holdings in Atlassian were worth $33,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TEAM. AQR Capital Management LLC lifted its holdings in shares of Atlassian by 291.4% during the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares in the last quarter. Norges Bank bought a new stake in Atlassian in the 4th quarter worth about $323,526,000. Morgan Stanley increased its holdings in Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after buying an additional 1,657,309 shares in the last quarter. Carmignac Gestion raised its position in Atlassian by 6,602.0% in the 4th quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock worth $195,601,000 after buying an additional 1,188,368 shares during the last quarter. Finally, DNB Asset Management AS raised its position in Atlassian by 42.2% in the 4th quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company’s stock worth $646,974,000 after buying an additional 1,183,328 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $80.15 on Friday. 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 Corporation PLC has a 1-year low of $56.01 and a 1-year high of $206.00. The company has a market capitalization of $20.34 billion, a P/E ratio of -96.57, a P/E/G ratio of 5.97 and a beta of 1.11. The firm’s 50 day simple moving average is $89.11 and its two-hundred day simple moving average is $89.36.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. Research analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the transaction, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,041 shares of company stock valued at $1,801,069 in the last ninety days. 36.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TEAM. Mizuho lowered their target price on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Bank of America reduced their price target on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Raymond James Financial reissued an “outperform” rating on shares of Atlassian in a report on Tuesday. Wall Street Zen cut shares of Atlassian from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, KeyCorp cut their target price on shares of Atlassian from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.50.

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.