Atlassian Co. (NASDAQ:TEAM) Shares Bought by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV raised its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,510 shares of the technology company's stock after acquiring an additional 2,259 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Atlassian were worth $8,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Corebridge Financial Inc. increased its position in shares of Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC grew its position in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after acquiring an additional 38 shares during the last quarter. Assetmark Inc. grew its position in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after acquiring an additional 41 shares during the last quarter. Allworth Financial LP grew its position in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after acquiring an additional 47 shares during the last quarter. Finally, Covenant Partners LLC grew its position in Atlassian by 4.2% in the 4th quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock valued at $323,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Barclays lowered their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company lowered their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group lowered their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Macquarie lowered their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the sale, the chief executive officer now directly owns 230,492 shares of the company's stock, valued at $72,362,963.40. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gene Liu sold 541 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the sale, the chief accounting officer now directly owns 51,481 shares in the company, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 283,197 shares of company stock valued at $64,494,622. Company insiders own 38.55% of the company's stock.

Atlassian Stock Down 2.9%

Atlassian stock traded down $6.32 during midday trading on Monday, reaching $214.47. The company's stock had a trading volume of 2,741,814 shares, compared to its average volume of 2,102,561. The stock's 50-day simple moving average is $213.39 and its 200-day simple moving average is $247.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market capitalization of $56.30 billion, a P/E ratio of -160.05 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. On average, sell-side analysts expect 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.