Daiwa Securities Group Inc. Purchases 1,081 Shares of Atlassian Co. (NASDAQ:TEAM)

Daiwa Securities Group Inc. increased its position in Atlassian Co. (NASDAQ:TEAM) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,399 shares of the technology company’s stock after buying an additional 1,081 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Atlassian were worth $3,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TEAM. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at $469,803,000. Manning & Napier Advisors LLC purchased a new stake in Atlassian during the second quarter valued at about $91,072,000. Westfield Capital Management Co. LP bought a new position in shares of Atlassian during the third quarter valued at about $57,149,000. Swedbank AB purchased a new position in shares of Atlassian in the first quarter worth about $50,923,000. Finally, Parnassus Investments LLC lifted its stake in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research report on Friday, November 1st. Jefferies Financial Group lifted their target price on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Robert W. Baird upped their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Scotiabank raised their price target on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, Mizuho upped their price objective on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Stock Performance

Shares of TEAM opened at $262.23 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $68.29 billion, a P/E ratio of -172.52 and a beta of 0.71. The business’s 50 day moving average price is $200.51 and its 200-day moving average price is $178.12. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $269.40.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60. Following the completion of the sale, the director now directly owns 190,752 shares in the company, valued at approximately $50,396,678.40. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the transaction, the president now 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 257,694 shares of company stock valued at $49,802,725. Corporate insiders own 38.55% of the company’s stock.

About Atlassian

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.