3,460 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,460 shares of the technology company’s stock, valued at approximately $842,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Jones Financial Companies Lllp boosted its holdings in Atlassian by 51.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,227 shares of the technology company’s stock valued at $299,000 after purchasing an additional 417 shares during the last quarter. Bailard Inc. raised its position in shares of Atlassian by 347.2% in the 4th quarter. Bailard Inc. now owns 16,269 shares of the technology company’s stock valued at $3,960,000 after purchasing an additional 12,631 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Atlassian by 52.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the technology company’s stock valued at $159,000 after buying an additional 222 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $490,000. Finally, QRG Capital Management Inc. grew its position in shares of Atlassian by 22.2% during the fourth quarter. QRG Capital Management Inc. now owns 7,604 shares of the technology company’s stock worth $1,851,000 after buying an additional 1,382 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

NASDAQ TEAM opened at $274.22 on Tuesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock’s 50-day moving average price is $275.70 and its two-hundred day moving average price is $229.79. The company has a market cap of $71.85 billion, a PE ratio of -204.64 and a beta of 0.87. 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 (NASDAQ:TEAM) last released its quarterly earnings results 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, analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In related news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 166,908 shares of the company’s stock, valued at approximately $46,502,237.88. This represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock worth $75,954,229 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Citigroup increased their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Truist Financial reissued a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. UBS Group upped their price objective on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Oppenheimer lifted their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target 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.