Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank increased its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 14.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,405 shares of the technology company's stock after purchasing an additional 3,371 shares during the period. Toronto Dominion Bank's holdings in Atlassian were worth $6,426,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TEAM. GF Fund Management CO. LTD. bought a new position in shares of Atlassian in the 4th quarter worth about $7,447,000. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of Atlassian by 66.4% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 7,120 shares of the technology company's stock worth $1,733,000 after buying an additional 2,842 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Atlassian in the fourth quarter worth approximately $16,461,000. Vise Technologies Inc. raised its stake in Atlassian by 40.9% during the 4th quarter. Vise Technologies Inc. now owns 1,784 shares of the technology company's stock worth $434,000 after acquiring an additional 518 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Atlassian by 19.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,681 shares of the technology company's stock valued at $27,181,000 after buying an additional 18,267 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TEAM shares. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their price target for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. KeyCorp cut their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Barclays dropped their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $285.29.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the transaction, the director now directly owns 119,220 shares in the company, valued at approximately $25,995,921. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 541 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $122,000.91. Following the completion of the sale, the chief accounting officer now directly owns 51,481 shares of the company's stock, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 310,899 shares of company stock valued at $66,859,457 in the last 90 days. Insiders own 38.55% of the company's stock.

Atlassian Price Performance

TEAM traded up $2.38 during trading on Friday, hitting $206.31. 3,481,076 shares of the company traded hands, compared to its average volume of 2,090,394. The company has a market cap of $54.16 billion, a PE ratio of -153.96 and a beta of 1.06. The stock's 50-day simple moving average is $210.57 and its two-hundred day simple moving average is $245.81. Atlassian Co. has a 1 year low of $135.29 and a 1 year 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.89 EPS. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.