Toronto Dominion Bank Raises Position in Atlassian Co. (NASDAQ:TEAM)

Toronto Dominion Bank lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 33.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,034 shares of the technology company’s stock after buying an additional 5,796 shares during the quarter. Toronto Dominion Bank’s holdings in Atlassian were worth $3,658,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC lifted its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Atlassian in the second quarter worth about $36,000. True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC grew its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Atlassian during the 3rd quarter worth approximately $48,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the completion of the sale, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at $37,668,989.64. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,642 shares of company stock valued at $56,973,091. Company insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler increased their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial increased their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday. BMO Capital Markets boosted their target price on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.50.

Atlassian Stock Performance

Shares of TEAM stock opened at $278.65 on Monday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $72.57 billion, a price-to-earnings ratio of -183.32 and a beta of 0.80. The business has a 50 day simple moving average of $229.09 and a 200 day simple moving average of $186.92.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) earnings per share. On average, equities research analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

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.