Daiwa Securities Group Inc. Purchases 1,081 Shares of Atlassian Co. (NASDAQ:TEAM)

Daiwa Securities Group Inc. grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,399 shares of the technology company’s stock after purchasing an additional 1,081 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Atlassian were worth $3,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TEAM. Baillie Gifford & Co. increased its holdings in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at $469,803,000. Bank of New York Mellon Corp increased its stake in shares of Atlassian by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock worth $138,619,000 after purchasing an additional 26,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Atlassian by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock worth $92,678,000 after purchasing an additional 12,422 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in Atlassian during the second quarter valued at $91,072,000. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Barclays dropped their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research report on Friday, November 1st. Finally, Piper Sandler upped their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28. Following the completion of the transaction, the chief executive officer now directly owns 158,960 shares of the company’s stock, valued at approximately $26,444,585.60. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gene Liu sold 165 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock valued at $49,802,725 over the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Trading Up 0.5 %

TEAM stock opened at $262.23 on Wednesday. The firm has a market cap of $68.29 billion, a PE ratio of -172.52 and a beta of 0.71. The firm has a fifty day moving average price of $200.51 and a 200 day moving average price of $178.12. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. Sell-side analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal 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.