Daiwa Securities Group Inc. Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Daiwa Securities Group Inc. boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,472 shares of the technology company’s stock after buying an additional 940 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Atlassian were worth $4,632,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Cornercap Investment Counsel Inc. purchased a new position in Atlassian in the fourth quarter valued at $2,027,000. Strs Ohio increased its holdings in Atlassian by 2.9% in the fourth quarter. Strs Ohio now owns 41,548 shares of the technology company’s stock valued at $9,882,000 after buying an additional 1,158 shares during the last quarter. Carnegie Capital Asset Management LLC increased its holdings in Atlassian by 4.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 7,364 shares of the technology company’s stock valued at $1,752,000 after buying an additional 320 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Atlassian by 1.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 405,127 shares of the technology company’s stock valued at $96,364,000 after buying an additional 6,059 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Atlassian in the fourth quarter valued at $2,926,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Atlassian news, CAO Gene Liu sold 227 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the transaction, the chief executive officer now directly owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The disclosure for this sale can be found here. Insiders sold a total of 298,930 shares of company stock worth $62,707,908 over the last 90 days. Company insiders own 40.48% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $191.55 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a market cap of $49.69 billion, a P/E ratio of -128.56 and a beta of 0.63. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a 50-day moving average price of $201.83 and a 200 day moving average price of $206.53.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Research analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TEAM shares. KeyCorp started coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wells Fargo & Company raised their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. UBS Group dropped their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Finally, Mizuho dropped their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $224.25.

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.