Credit Suisse AG Invests $55.92 Million in Atlassian Co. (NASDAQ:TEAM)

Posted by Defense World Staff on Aug 21st, 2023

Credit Suisse AG purchased a new position in Atlassian Co. (NASDAQ:TEAM – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 326,696 shares of the technology company’s stock, valued at approximately $55,921,000. Credit Suisse AG owned about 0.13% of Atlassian as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Financial Counselors Inc. raised its holdings in shares of Atlassian by 4.8% in the first quarter. Financial Counselors Inc. now owns 12,830 shares of the technology company’s stock worth $2,196,000 after acquiring an additional 583 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Atlassian in the first quarter valued at $157,000. OLD National Bancorp IN grew its position in shares of Atlassian by 21.4% in the first quarter. OLD National Bancorp IN now owns 2,163 shares of the technology company’s stock valued at $370,000 after purchasing an additional 381 shares during the period. IFP Advisors Inc grew its position in shares of Atlassian by 29.7% in the fourth quarter. IFP Advisors Inc now owns 1,261 shares of the technology company’s stock valued at $299,000 after purchasing an additional 289 shares during the period. Finally, Soma Equity Partners LP purchased a new stake in shares of Atlassian in the fourth quarter valued at $51,472,000. 53.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TEAM shares. Berenberg Bank started coverage on Atlassian in a research report on Thursday, June 29th. They issued a “hold” rating and a $150.00 price objective for the company. Barclays lifted their price objective on Atlassian from $165.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Oppenheimer lifted their price objective on Atlassian from $200.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Mizuho boosted their price target on Atlassian from $205.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, KeyCorp boosted their price target on Atlassian from $175.00 to $205.00 in a research report on Tuesday, July 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.56.

View Our Latest Report on TEAM

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $186.30 on Monday. Atlassian Co. has a 1-year low of $113.86 and a 1-year high of $278.25. The business has a 50-day moving average of $178.06 and a 200-day moving average of $167.28. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $47.88 billion, a price-to-earnings ratio of -98.57 and a beta of 0.75.

Insider Buying and Selling

In related news, insider Gene Liu sold 149 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $199.99, for a total value of $29,798.51. Following the transaction, the insider now owns 47,788 shares in the company, valued at $9,557,122.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 448 shares of Atlassian stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $157.49, for a total value of $70,555.52. Following the completion of the transaction, the chief technology officer now owns 107,890 shares of the company’s stock, valued at $16,991,596.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gene Liu sold 149 shares of Atlassian stock in a transaction on Monday, August 14th. The stock was sold at an average price of $199.99, for a total transaction of $29,798.51. Following the completion of the transaction, the insider now directly owns 47,788 shares of the company’s stock, valued at approximately $9,557,122.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,759 shares of company stock worth $55,429,897. 43.11% of the stock is currently owned by corporate insiders.

Atlassian Company Profile

(Free Report)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.