Daiwa Securities Group Inc. Acquires 9,841 Shares of Atlassian Co. (NASDAQ:TEAM)

Daiwa Securities Group Inc. increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 42.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,240 shares of the technology company's stock after acquiring an additional 9,841 shares during the period. Daiwa Securities Group Inc.'s holdings in Atlassian were worth $8,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC boosted its position in shares of 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 in the last quarter. Avion Wealth raised its stake in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. boosted its holdings in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of Atlassian in the fourth quarter worth $49,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Atlassian in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In related news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares of the company's stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the completion of the transaction, the director now owns 119,220 shares of the company's stock, valued at $25,995,921. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,501 shares of company stock valued at $74,569,690. Company insiders own 38.55% of the company's stock.

Atlassian Trading Up 3.8 %

Shares of NASDAQ:TEAM opened at $224.10 on Wednesday. The stock has a 50 day moving average of $275.10 and a 200 day moving average of $233.57. The company has a market cap of $58.71 billion, a PE ratio of -167.24 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

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Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. KeyCorp upped their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Cantor Fitzgerald upped their target price on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Truist Financial restated a "buy" rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Finally, William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $319.71.

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.

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