Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,400 Shares of Atlassian Co. (NASDAQ:TEAM)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,198 shares of the technology company's stock after purchasing 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 reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC increased 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 acquiring an additional 96 shares during the period. True Wealth Design LLC raised its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Reston Wealth Management LLC bought a new position in Atlassian during the 3rd quarter valued at approximately $48,000. Brown Brothers Harriman & Co. raised its position in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Atlassian during the 3rd quarter valued at approximately $103,000. 94.45% of the stock is owned by institutional investors.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 165 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the transaction, the chief executive officer now owns 230,492 shares in the company, valued at approximately $55,131,381.48. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,601 shares of company stock worth $72,961,244. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

Shares of TEAM traded down $2.45 during trading hours on Thursday, hitting $316.00. The stock had a trading volume of 1,459,831 shares, compared to its average volume of 2,033,703. 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 $326.00. The firm has a market capitalization of $82.79 billion, a PE ratio of -235.82 and a beta of 0.87. The stock has a fifty day moving average price of $268.61 and a 200 day moving average price of $216.16.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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 anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Oppenheimer upped their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a report on Thursday. UBS Group increased their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group increased their price target on shares of Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $319.71.

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.