Slow Capital Inc. Raises Stock Position in Atlassian Co. (NASDAQ:TEAM)

Slow Capital Inc. raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,879 shares of the technology company’s stock after purchasing an additional 959 shares during the period. Atlassian accounts for 1.2% of Slow Capital Inc.’s holdings, making the stock its 18th biggest position. Slow Capital Inc.’s holdings in Atlassian were worth $8,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TEAM. Point72 Asset Management L.P. boosted its holdings in Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after acquiring an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Atlassian during the third quarter worth approximately $57,149,000. Parnassus Investments LLC raised its stake in Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the last quarter. Finally, PointState Capital LP purchased a new position in Atlassian in the 3rd quarter valued at $30,566,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the sale, the director now owns 309,972 shares of the company’s stock, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,240 shares of company stock worth $65,922,247 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TEAM shares. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a research report on Tuesday, January 7th. Piper Sandler upped their target price on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Oppenheimer boosted their price target on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. KeyCorp raised their price objective on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.19.

Atlassian Stock Up 1.2 %

TEAM stock opened at $268.00 on Tuesday. The company’s 50 day moving average price is $257.68 and its 200 day moving average price is $205.02. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

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.