Asset Management One Co. Ltd. Acquires 10,184 Shares of Atlassian Co. (NASDAQ:TEAM)

Asset Management One Co. Ltd. increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 17.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 68,226 shares of the technology company’s stock after purchasing an additional 10,184 shares during the period. Asset Management One Co. Ltd.’s holdings in Atlassian were worth $17,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TEAM. GAMMA Investing LLC grew its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC boosted its stake in Atlassian by 23,100.0% in the 3rd 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 period. Avion Wealth grew its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian during the third quarter valued at about $48,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $311.90, for a total transaction of $2,478,981.20. Following the completion of the transaction, the chief executive officer now owns 238,440 shares in the company, valued at $74,369,436. This represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total value of $825,000.00. Following the completion of the sale, the director now directly owns 5,610 shares of the company’s stock, valued at $1,542,750. The trade was a 34.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 285,224 shares of company stock worth $76,899,985. Company insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Oppenheimer increased their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Morgan Stanley lifted their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Price Performance

Shares of Atlassian stock opened at $313.10 on Friday. The stock has a market capitalization of $82.03 billion, a P/E ratio of -233.65 and a beta of 0.87. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. The business’s 50 day simple moving average is $270.09 and its two-hundred day simple moving average is $218.10.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results 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 net margin of 7.22% and a negative return on equity of 17.37%. Analysts forecast that Atlassian Co. will post -0.34 EPS 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.