Fjarde AP Fonden Fourth Swedish National Pension Fund Has $4.23 Million Stake in Atlassian Corporation PLC $TEAM

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 69.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the technology company’s stock after purchasing 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.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. USS Investment Management Ltd boosted its holdings in Atlassian by 439.1% during the first quarter. USS Investment Management Ltd now owns 170,281 shares of the technology company’s stock valued at $11,624,000 after purchasing an additional 138,695 shares in the last quarter. Larry Mathis Financial Planning LLC raised its stake in Atlassian by 52.1% during the first quarter. Larry Mathis Financial Planning LLC now owns 3,413 shares of the technology company’s stock worth $233,000 after acquiring an additional 1,169 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Atlassian by 27.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Atlassian in the first quarter valued at about $1,365,000. Finally, Louisiana State Employees Retirement System bought a new stake in Atlassian during the first quarter worth about $758,000. Institutional investors own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the transaction, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 sale, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 20,041 shares of company stock worth $1,801,069. Company insiders own 36.66% of the company’s stock.

Atlassian Trading Up 4.4%

Shares of NASDAQ TEAM opened at $89.24 on Tuesday. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The firm has a market capitalization of $22.65 billion, a P/E ratio of -107.23, a P/E/G ratio of 4.73 and a beta of 1.11. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $86.71 and its 200 day simple moving average is $95.95.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 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 analyst estimates of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. On average, analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their target price on Atlassian from $98.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane began coverage on Atlassian in a report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target for the company. Mizuho cut their price objective on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Truist Financial upped their price target on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, UBS Group decreased their price objective on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. 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 stock. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price 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.