Nomura Asset Management Co. Ltd. Decreases Position in Atlassian Co. (NASDAQ:TEAM)

Nomura Asset Management Co. Ltd. decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,355 shares of the technology company’s stock after selling 24,491 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Atlassian were worth $26,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Atlassian during the fourth quarter valued at $202,000. American Century Companies Inc. increased its holdings in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after buying an additional 159,102 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Atlassian in the 4th quarter worth about $13,805,000. Finally, Royal Bank of Canada grew its position in Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the period. Institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 3.1 %

Shares of NASDAQ TEAM traded down $5.32 during trading hours on Friday, hitting $168.86. 1,928,281 shares of the company traded hands, compared to its average volume of 1,716,420. The company’s 50 day moving average price is $189.37 and its 200 day moving average price is $205.74. Atlassian Co. has a 12 month low of $156.44 and a 12 month high of $258.69. The stock has a market capitalization of $43.95 billion, a price-to-earnings ratio of -268.03 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.40) earnings per share. On average, equities research analysts anticipate that Atlassian Co. will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TEAM shares. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Monday, April 29th. KeyCorp began coverage on Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating for the company. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Robert W. Baird dropped their target price on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, UBS Group reduced their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $223.22.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $206.42, for a total transaction of $1,701,107.22. Following the transaction, the chief executive officer now owns 173,061 shares of the company’s stock, valued at $35,723,251.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $206.42, for a total transaction of $1,701,107.22. Following the completion of the sale, the chief executive officer now directly owns 173,061 shares of the company’s stock, valued at $35,723,251.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00. Following the completion of the transaction, the president now owns 163,370 shares in the company, valued at $32,845,538.50. The disclosure for this sale can be found here. Insiders have sold 300,608 shares of company stock valued at $57,924,835 in the last ninety days. 40.48% of the stock is owned by company insiders.

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.