Swiss National Bank Has $110.02 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Swiss National Bank lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 452,067 shares of the technology company’s stock after selling 20,800 shares during the quarter. Swiss National Bank’s holdings in Atlassian were worth $110,024,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TEAM. Assetmark Inc. boosted its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after acquiring an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Oppenheimer raised their price objective on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Macquarie raised their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Stock Performance

Shares of Atlassian stock opened at $218.44 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of -163.01 and a beta of 0.91. The business has a 50-day simple moving average of $273.44 and a 200 day simple moving average of $233.71. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $278.13, for a total value of $2,210,577.24. Following the completion of the sale, the chief executive officer now directly owns 79,480 shares of the company’s stock, valued at $22,105,772.40. The trade was a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,501 shares of company stock valued at $74,167,124 in the last three months. Corporate insiders own 38.55% of the company’s stock.

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.