Atlassian Co. (NASDAQ:TEAM) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 1.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,127 shares of the technology company’s stock after selling 647 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Atlassian were worth $12,200,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cerity Partners LLC boosted its stake in shares of Atlassian by 169.0% during the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company’s stock valued at $2,861,000 after acquiring an additional 11,320 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Atlassian by 17.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company’s stock worth $4,824,000 after purchasing an additional 4,479 shares during the last quarter. FMR LLC grew its holdings in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after buying an additional 150,237 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Atlassian by 16.0% in the third quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company’s stock valued at $212,000 after buying an additional 185 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Atlassian by 5.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock valued at $192,216,000 after buying an additional 58,536 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 2.1 %

TEAM stock opened at $217.99 on Monday. The company has a market capitalization of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. The firm has a 50 day simple moving average of $269.28 and a 200-day simple moving average of $239.11. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler lifted their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group lifted their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Barclays increased their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Finally, UBS Group increased their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 779 shares of Atlassian 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 transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares in the company, valued at approximately $87,098,475.92. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,085 shares of company stock valued at $68,681,246 in the last quarter. Insiders own 38.55% of the company’s stock.

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.