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

Nomura Asset Management Co. Ltd. reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 17.9% in the 4th quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TEAM. Baillie Gifford & Co. raised its holdings in shares of Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the last quarter. Morgan Stanley raised its stake in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the last quarter. Norges Bank purchased a new position in Atlassian in the 4th quarter valued at about $247,740,000. Brown Advisory Inc. boosted its stake in shares of Atlassian by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after purchasing an additional 255,653 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of Atlassian by 2.7% during the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after buying an additional 249,017 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Down 3.1 %

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

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

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $204.79, for a total value of $1,687,674.39. Following the completion of the transaction, the chief executive officer now owns 189,543 shares in the company, valued at approximately $38,816,510.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Gene Liu sold 582 shares of Atlassian stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $215.00, for a total transaction of $125,130.00. Following the sale, the chief accounting officer now directly owns 45,865 shares of the company’s stock, valued at $9,860,975. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $204.79, for a total value of $1,687,674.39. Following the completion of the transaction, the chief executive officer now owns 189,543 shares in the company, valued at approximately $38,816,510.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 300,608 shares of company stock worth $57,924,835. 40.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEAM. UBS Group reduced their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Mizuho reduced their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Canaccord Genuity Group decreased their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.22.

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.