Tokio Marine Asset Management Co. Ltd. Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 5.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,836 shares of the technology company’s stock after purchasing an additional 238 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Atlassian were worth $768,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Asset Dedication LLC grew its position in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in Atlassian in the 2nd quarter worth approximately $36,000. Crewe Advisors LLC bought a new position in Atlassian during the first quarter valued at approximately $43,000. Finally, GAMMA Investing LLC raised its stake in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TEAM. BMO Capital Markets increased their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Piper Sandler lifted their price objective on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Scotiabank increased their price objective on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Finally, JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the completion of the transaction, the director now directly owns 270,232 shares in the company, valued at approximately $66,163,602.88. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock worth $45,553,294 over the last three months. 38.55% of the stock is currently owned by company insiders.

Atlassian Trading Down 4.0 %

NASDAQ:TEAM opened at $240.04 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The stock has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71. The company’s 50 day moving average price is $186.37 and its 200-day moving average price is $174.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned ($0.07) EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts forecast 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.