Swiss National Bank Increases Holdings in Atlassian Corporation PLC $TEAM

Swiss National Bank raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned 0.19% of Atlassian worth $33,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TEAM. NewEdge Advisors LLC raised its holdings in shares of Atlassian by 71.6% during the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 2,267 shares in the last quarter. Empowered Funds LLC boosted its holdings in Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after acquiring an additional 1,328 shares in the last quarter. Focus Partners Wealth boosted its holdings in Atlassian by 32.6% in the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,014 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Finally, Sivia Capital Partners LLC increased its position in Atlassian by 27.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEAM. Bank of America dropped their target price on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. BTIG Research reiterated a “buy” rating and set a $130.00 price target on shares of Atlassian in a research report on Friday, July 10th. Barclays increased their price target on shares of Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird set a $120.00 price objective on Atlassian in a research report on Friday, May 1st. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a research report on Wednesday, July 1st. Twenty-one equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.50.

Insiders Place Their Bets

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

Atlassian Price Performance

TEAM stock opened at $80.15 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50 day moving average price of $89.11 and a 200-day moving average price of $89.36. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $206.00. The firm has a market capitalization of $20.34 billion, a price-to-earnings ratio of -96.57, a PEG ratio of 5.97 and a beta of 1.11.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. Equities research analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

About Atlassian

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.