SBI Securities Co. Ltd. Has $1.70 Million Stock Position in Atlassian Corporation PLC (NASDAQ:TEAM)

SBI Securities Co. Ltd. increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 131.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,999 shares of the technology company's stock after purchasing an additional 4,539 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Atlassian were worth $1,697,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $687,486,000. Invesco Ltd. boosted its holdings in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on TEAM shares. Macquarie decreased their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Mizuho reduced their target price on shares of Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Wells Fargo & Company reduced their target price on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Atlassian currently has a consensus rating of "Moderate Buy" and an average target price of $285.75.

Atlassian Trading Up 2.5%

Shares of TEAM stock opened at $191.61 on Tuesday. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00. The firm's fifty day simple moving average is $207.96 and its 200 day simple moving average is $233.70. The firm has a market capitalization of $50.30 billion, a P/E ratio of -115.43 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Atlassian's revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $192.64, for a total value of $1,476,585.60. Following the sale, the director owned 429,240 shares of the company's stock, valued at $82,688,793.60. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $192.64, for a total transaction of $1,476,585.60. Following the completion of the sale, the chief executive officer directly owned 429,240 shares in the company, valued at $82,688,793.60. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 425,013 shares of company stock worth $88,952,830 in the last three months. Insiders own 38.55% of the company's stock.

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.

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