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

Slow Capital Inc. boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 33,879 shares of the technology company’s stock after purchasing an additional 959 shares during the period. Atlassian accounts for about 1.2% of Slow Capital Inc.’s investment portfolio, making the stock its 18th biggest holding. Slow Capital Inc.’s holdings in Atlassian were worth $8,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEAM. GAMMA Investing LLC boosted its stake in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the period. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Atlassian during the 3rd quarter worth approximately $48,000. Quarry LP grew its stake in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $268.00 on Tuesday. The firm’s 50 day moving average price is $257.68 and its 200 day moving average price is $205.02. 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 Co. has a 1 year low of $135.29 and a 1 year high of $287.97.

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. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts forecast that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Insider Activity

In other news, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $1,028,052.00. Following the transaction, the president now directly owns 224,436 shares of the company’s stock, valued at $50,599,096.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84. Following the completion of the transaction, the chief executive officer now owns 365,608 shares in the company, valued at $97,006,770.64. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,240 shares of company stock valued at $65,922,247 in the last 90 days. 38.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEAM shares. Scotiabank lifted their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Canaccord Genuity Group increased their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Cantor Fitzgerald started coverage on Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price objective on the stock. Macquarie started coverage on Atlassian in a report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target for the company. Finally, Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $273.19.

Atlassian Company Profile

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.