Atlassian Co. (NASDAQ:TEAM) Holdings Raised by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in Atlassian Co. (NASDAQ:TEAM) by 574.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,576 shares of the technology company’s stock after purchasing an additional 46,489 shares during the period. Bank of Nova Scotia’s holdings in Atlassian were worth $13,283,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Atlassian in the third quarter valued at $606,000. Fulton Bank N.A. acquired a new stake in shares of Atlassian in the fourth quarter worth about $447,000. Allworth Financial LP boosted its position in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after purchasing an additional 47 shares during the period. Nordea Investment Management AB grew its stake in Atlassian by 20.1% in the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after buying an additional 5,088 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after purchasing an additional 4,099 shares during the period. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $198.03 on Friday. 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 firm has a market cap of $51.88 billion, a price-to-earnings ratio of -147.78 and a beta of 1.07. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The business’s fifty day moving average is $253.50 and its 200 day moving average is $241.00.

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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on TEAM shares. Truist Financial cut their price objective on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald raised shares of Atlassian from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. UBS Group lowered their price objective on shares of Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, April 1st. Jefferies Financial Group dropped their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research report on Monday. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $297.50.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the completion of the sale, the chief executive officer now owns 421,244 shares of the company’s stock, valued at $99,788,491.16. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $68,608,284 over the last 90 days. Insiders own 38.55% of the company’s stock.

Atlassian 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.