Atlassian Corporation PLC $TEAM Stock Holdings Lowered by SBI Securities Co. Ltd.

Key Points

• SBI Securities cut its Atlassian stake by 96% in the third quarter, selling 77,187 shares and retaining 3,192 shares valued at approximately $572,000. Institutional investors collectively own 94.45% of the company.
• Analysts remain broadly positive, with 24 Buy ratings, four Holds and one Sell. Atlassian has a “Moderate Buy” consensus rating and an average price target of $213.35.
• Atlassian reported quarterly revenue of $1.77 billion, up 27.6% year over year, and EPS of $1.87, exceeding analysts’ $1.50 estimate. The stock opened at $227.61, near its 52-week high of $229.96.

SBI Securities Co. Ltd. decreased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 96.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,192 shares of the technology company's stock after selling 77,187 shares during the period. SBI Securities Co. Ltd.'s holdings in Atlassian were worth $572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Atlassian by 69.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,000 shares of the technology company's stock worth $4,232,000 after acquiring an additional 25,400 shares during the period. Arizona State Retirement System raised its stake in shares of Atlassian by 6.5% during the second quarter. Arizona State Retirement System now owns 48,629 shares of the technology company's stock valued at $3,783,000 after purchasing an additional 2,969 shares during the period. Fluent Financial LLC purchased a new stake in shares of Atlassian during the second quarter valued at approximately $2,239,000. IFP Advisors Inc raised its stake in shares of Atlassian by 76.0% during the second quarter. IFP Advisors Inc now owns 9,428 shares of the technology company's stock valued at $733,000 after purchasing an additional 4,071 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Atlassian during the second quarter worth $11,584,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 1,125 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the sale, the chief accounting officer directly owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian Duffy sold 7,617 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares of the company's stock, valued at $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,475 shares of company stock valued at $3,822,643 in the last quarter. Insiders own 37.63% of the company's stock.

Analysts Set New Price Targets

TEAM has been the subject of several analyst reports. BMO Capital Markets upped their target price on shares of Atlassian from $95.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Bank of America lifted their price target on shares of Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, August 31st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Atlassian in a research note on Monday, June 29th. TD Cowen boosted their price objective on shares of Atlassian from $105.00 to $145.00 and gave the stock a "hold" rating in a report on Friday, August 7th. Finally, Mizuho upped their price objective on shares of Atlassian from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday, October 15th. Twenty-four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.35.

Atlassian Price Performance

TEAM stock opened at $227.61 on Monday. The stock's 50 day moving average is $191.25 and its two-hundred day moving average is $125.92. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $229.96. The company has a market capitalization of $57.62 billion, a PE ratio of -1,197.95, a P/E/G ratio of 24.27 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the prior year, the business posted $0.98 EPS. The business's revenue was up 27.6% on a year-over-year basis. Analysts predict that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.

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