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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,838 shares of the technology company’s stock after purchasing an additional 1,495 shares during the quarter. 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.

A number of other hedge funds also recently bought and sold shares of the business. Baillie Gifford & Co. lifted its position 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 valued at $2,094,980,000 after acquiring an additional 1,511,318 shares in the last quarter. Morgan Stanley lifted its position 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 valued at $361,449,000 after acquiring an additional 1,095,297 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after acquiring an additional 159,102 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Atlassian by 45.8% in the third quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after acquiring an additional 149,850 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $193.35, for a total value of $1,593,397.35. Following the completion of the sale, the chief executive officer now directly owns 382,932 shares of the company’s stock, valued at $74,039,902.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Rajeev Bashyam Rajan sold 872 shares of Atlassian stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $185,622.64. Following the completion of the sale, the chief technology officer now directly owns 142,103 shares of the company’s stock, valued at $30,249,465.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $193.35, for a total value of $1,593,397.35. Following the completion of the sale, the chief executive officer now directly owns 382,932 shares of the company’s stock, valued at $74,039,902.20. The disclosure for this sale can be found here. Insiders sold a total of 299,690 shares of company stock valued at $61,962,072 over the last quarter. 40.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho decreased their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. UBS Group decreased their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. KeyCorp assumed coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Citigroup reduced their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $224.25.

Atlassian Price Performance

TEAM stock opened at $199.44 on Wednesday. The business has a fifty day moving average of $201.18 and a two-hundred day moving average of $206.81. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a market cap of $51.74 billion, a price-to-earnings ratio of -133.85 and a beta of 0.63. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69.

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