Toronto Dominion Bank Acquires 3,371 Shares of Atlassian Co. (NASDAQ:TEAM)

Toronto Dominion Bank grew its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,405 shares of the technology company's stock after purchasing an additional 3,371 shares during the quarter. Toronto Dominion Bank's holdings in Atlassian were worth $6,426,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian during the 4th quarter valued at about $27,000. Colonial Trust Co SC increased its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian during the 4th quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the 4th quarter valued at about $39,000. Finally, Avion Wealth increased its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TEAM shares. Jefferies Financial Group reduced their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Truist Financial cut their target price on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Piper Sandler restated an "overweight" rating and issued a $300.00 target price (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Stephens cut their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,731 shares of Atlassian stock in a transaction on Monday, May 19th. The stock was sold at an average price of $214.87, for a total transaction of $371,939.97. Following the completion of the transaction, the president now owns 190,529 shares in the company, valued at approximately $40,938,966.23. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96. Following the transaction, the director now owns 182,804 shares of the company's stock, valued at $52,971,115.08. The trade was a 4.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 302,951 shares of company stock worth $67,006,971 in the last quarter. 38.55% of the stock is owned by company insiders.

Atlassian Stock Down 0.7%

Shares of TEAM traded down $1.55 on Friday, reaching $206.82. The stock had a trading volume of 2,037,480 shares, compared to its average volume of 2,115,350. The firm has a market capitalization of $54.29 billion, a price-to-earnings ratio of -154.34 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50-day simple moving average of $212.83 and a 200-day simple moving average of $247.02. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its 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 for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Sell-side analysts predict 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.