Tokio Marine Asset Management Co. Ltd. Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Atlassian Co. (NASDAQ:TEAM) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,123 shares of the technology company’s stock after purchasing an additional 287 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Atlassian were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of TEAM. Point72 Asset Management L.P. raised its position in Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP raised its position in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Atlassian in the 3rd quarter worth about $57,149,000. Parnassus Investments LLC grew its stake in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, PointState Capital LP bought a new stake in shares of Atlassian during the 3rd quarter valued at about $30,566,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TEAM. Robert W. Baird boosted their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Oppenheimer boosted their price objective on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial reiterated a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of Atlassian in a research note on Friday. Finally, BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $318.43.

Atlassian Stock Performance

NASDAQ:TEAM opened at $311.40 on Tuesday. The stock’s fifty day moving average is $260.51 and its 200 day moving average is $208.44. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37. The firm has a market capitalization of $81.10 billion, a PE ratio of -232.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. On average, sell-side analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92. Following the transaction, the director now owns 278,180 shares of the company’s stock, valued at $65,939,787.20. This represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Gene Liu sold 785 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $240.00, for a total value of $188,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,938 shares in the company, valued at $13,905,120. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,935 shares of company stock worth $66,276,511. Company 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.