Rakuten Securities Inc. Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Rakuten Securities Inc. grew its stake in Atlassian Co. (NASDAQ:TEAM) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,085 shares of the technology company’s stock after buying an additional 161 shares during the quarter. Rakuten Securities Inc.’s holdings in Atlassian were worth $264,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Atlassian in the third quarter valued at approximately $606,000. Fulton Bank N.A. acquired a new position in shares of Atlassian during the 4th quarter worth about $447,000. Paloma Partners Management Co acquired a new stake in Atlassian in the 3rd quarter worth about $1,588,000. Allworth Financial LP boosted its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares during the last quarter. Finally, Parnassus Investments LLC raised its stake in Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian 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 directly owns 270,232 shares of the company’s stock, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,501 shares of company stock worth $74,569,690 over the last three months. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $224.10 on Wednesday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a market cap of $58.71 billion, a P/E ratio of -167.24 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business’s 50-day moving average price is $275.10 and its 200 day moving average price is $233.57.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cantor Fitzgerald raised their target price on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial reiterated a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Piper Sandler upped their target price on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

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.