Atlassian Co. (NASDAQ:TEAM) Stake Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,198 shares of the technology company’s stock after buying an additional 2,400 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Atlassian were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC lifted its position in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the third quarter worth approximately $48,000. Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Atlassian in the 3rd quarter valued at approximately $103,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEAM. Barclays lifted their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,659 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now directly owns 213,511 shares of the company’s stock, valued at $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12. Following the sale, the director now owns 278,180 shares in the company, valued at $87,818,644.20. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,705 shares of company stock valued at $67,890,023 over the last three months. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Down 1.5 %

TEAM opened at $314.28 on Monday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $324.37. The business has a 50 day moving average of $265.92 and a 200-day moving average of $213.13. The stock has a market capitalization of $82.34 billion, a price-to-earnings ratio of -234.54 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share 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.