Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,198 shares of the technology company’s stock after acquiring an additional 2,400 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Atlassian were worth $3,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TEAM. True Wealth Design LLC lifted its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC raised its stake in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. Reston Wealth Management LLC bought a new position in Atlassian during the 3rd quarter worth approximately $48,000. Brown Brothers Harriman & Co. grew its position in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Atlassian by 66.8% in the 4th quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock valued at $123,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In other news, CAO Gene Liu sold 165 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now directly owns 213,511 shares in the company, valued at $52,483,138.91. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,705 shares of company stock worth $67,890,023. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Barclays boosted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Cantor Fitzgerald raised their target price on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Robert W. Baird upped their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $314.28 on Monday. The stock has a market cap of $82.34 billion, a price-to-earnings ratio of -234.54 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $324.37. The stock’s 50 day moving average price is $265.92 and its 200 day moving average price is $213.13.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts anticipate that Atlassian Co. will post -0.34 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.