Atlassian Co. (NASDAQ:TEAM) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 75.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,999 shares of the technology company’s stock after selling 198,045 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Atlassian were worth $16,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. Avion Wealth boosted its position in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. boosted its position in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC purchased a new stake in Atlassian during the 4th quarter worth $49,000. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in Atlassian during the 4th quarter worth $56,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24. Following the completion of the sale, the chief executive officer now owns 79,480 shares of the company’s stock, valued at approximately $22,105,772.40. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,501 shares of company stock worth $74,167,124. Corporate insiders own 38.55% of the company’s stock.

Atlassian Trading Down 8.1 %

Atlassian stock opened at $208.00 on Friday. The firm has a 50 day simple moving average of $274.08 and a 200-day simple moving average of $233.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $54.50 billion, a PE ratio of -155.22 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research reports. Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group upped their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Macquarie upped their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.