Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in Atlassian Co. (NASDAQ:TEAM) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,120 shares of the technology company’s stock after acquiring an additional 4,509 shares during the period. Handelsbanken Fonder AB’s holdings in Atlassian were worth $11,208,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in Atlassian during the 3rd quarter valued at about $26,000. Carmel Capital Partners LLC increased its stake in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares during the period. Operose Advisors LLC acquired a new position in Atlassian during the 3rd quarter valued at about $99,000. Finally, First Horizon Advisors Inc. increased its stake in Atlassian by 33.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 571 shares of the technology company’s stock valued at $115,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. UBS Group reduced their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Truist Financial raised their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $224.25.

Atlassian Stock Performance

Shares of TEAM opened at $199.44 on Wednesday. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company has a 50-day moving average of $201.18 and a two-hundred day moving average of $206.81. The stock has a market cap of $51.74 billion, a price-to-earnings ratio of -133.85 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. On average, equities research analysts expect that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at $87,752,310.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at $87,752,310.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 299,690 shares of company stock worth $61,962,072. 40.48% of the stock is owned by company insiders.

About Atlassian

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.