SBI Securities Co. Ltd. Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

SBI Securities Co. Ltd. acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,460 shares of the technology company’s stock, valued at approximately $842,000.

A number of other institutional investors have also recently added to or reduced their stakes in TEAM. Baillie Gifford & Co. boosted its stake in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. State Street Corp boosted its position in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the period. JPMorgan Chase & Co. grew its holdings in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after purchasing an additional 131,621 shares during the last quarter. FMR LLC grew its holdings in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after purchasing an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after purchasing an additional 57,911 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on TEAM shares. Morgan Stanley upped their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Canaccord Genuity Group raised their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Cantor Fitzgerald upped their price target on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Price Performance

Atlassian stock opened at $274.22 on Tuesday. The business has a 50 day simple moving average of $275.70 and a 200 day simple moving average of $229.79. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a market capitalization of $71.85 billion, a PE ratio of -204.64 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $278.61, for a total value of $2,214,392.28. Following the transaction, the director now directly owns 166,908 shares of the company’s stock, valued at $46,502,237.88. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,501 shares of company stock worth $75,954,229 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Atlassian 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.