9,371 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Daiwa Securities Group Inc.

Posted by Defense World Staff on May 4th, 2023

Daiwa Securities Group Inc. purchased a new position in Atlassian Co. (NASDAQ:TEAM – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,371 shares of the technology company’s stock, valued at approximately $1,206,000.

Other institutional investors also recently added to or reduced their stakes in the company. Guinness Atkinson Asset Management Inc bought a new position in Atlassian during the 4th quarter worth about $30,000. Sonnipe Ltd bought a new position in Atlassian during the 4th quarter worth about $36,000. Huntington National Bank grew its holdings in Atlassian by 64.4% during the 3rd quarter. Huntington National Bank now owns 286 shares of the technology company’s stock worth $60,000 after acquiring an additional 112 shares in the last quarter. Ridgewood Investments LLC bought a new position in Atlassian during the 4th quarter worth about $42,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Atlassian by 155.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 330 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 45.50% of the company’s stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $184.75, for a total transaction of $1,591,436.50. Following the completion of the transaction, the chief executive officer now directly owns 267,034 shares of the company’s stock, valued at approximately $49,334,531.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $184.75, for a total transaction of $1,591,436.50. Following the completion of the transaction, the chief executive officer now directly owns 267,034 shares of the company’s stock, valued at approximately $49,334,531.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gene Liu sold 238 shares of Atlassian stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $180.79, for a total transaction of $43,028.02. Following the transaction, the insider now directly owns 50,413 shares of the company’s stock, valued at $9,114,166.27. The disclosure for this sale can be found here. Insiders sold a total of 281,329 shares of company stock valued at $45,829,084 in the last three months. 43.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. KeyCorp increased their target price on shares of Atlassian from $174.00 to $187.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Mizuho lowered their price target on shares of Atlassian from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Monday, April 17th. BMO Capital Markets raised their price target on shares of Atlassian from $170.00 to $190.00 and gave the company a “market perform” rating in a report on Friday, April 14th. Jefferies Financial Group raised their price target on shares of Atlassian from $150.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Finally, Morgan Stanley lowered their price target on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.05.

Atlassian Stock Performance

TEAM opened at $145.14 on Thursday. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $300.29. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $37.20 billion, a PE ratio of -105.17 and a beta of 0.83. The firm has a 50 day moving average of $159.88 and a two-hundred day moving average of $154.19.

Atlassian (NASDAQ:TEAM – Get Rating) last posted its earnings results on Thursday, February 2nd. The technology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.33). The firm had revenue of $872.70 million for the quarter, compared to analysts’ expectations of $842.45 million. Atlassian had a negative net margin of 11.17% and a negative return on equity of 73.57%. On average, analysts anticipate that Atlassian Co. will post -0.84 EPS for the current year.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.