Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Atlassian Co. (NASDAQ:TEAM) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,838 shares of the technology company’s stock after purchasing an additional 1,495 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Atlassian were worth $3,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Atlassian by 0.8% in the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after purchasing an additional 112,482 shares during the period. WCM Investment Management LLC grew its stake in Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after purchasing an additional 249,017 shares during the period. Baillie Gifford & Co. grew its stake in shares of Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after acquiring an additional 63,903 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Atlassian by 156.8% in the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after acquiring an additional 1,095,297 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 2.7 %

TEAM stock opened at $199.44 on Wednesday. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The business’s 50-day moving average is $201.18 and its two-hundred day moving average is $206.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $51.74 billion, a price-to-earnings ratio of -133.85 and a beta of 0.63.

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

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the transaction, the president now directly owns 167,535 shares in the company, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,690 shares of company stock valued at $61,962,072. 40.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Mizuho cut their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Citigroup cut their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company increased their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. KeyCorp assumed coverage on Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Finally, UBS Group cut their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $224.25.

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.