Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia boosted its holdings in Atlassian Co. (NASDAQ:TEAMFree Report) by 348.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,722 shares of the technology company’s stock after buying an additional 6,001 shares during the period. Bank of Nova Scotia’s holdings in Atlassian were worth $1,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its position in shares of Atlassian by 120.2% in the third quarter. Oppenheimer & Co. Inc. now owns 4,429 shares of the technology company’s stock worth $892,000 after acquiring an additional 2,418 shares during the last quarter. Amalgamated Bank raised its holdings in Atlassian by 17.8% in the third quarter. Amalgamated Bank now owns 18,613 shares of the technology company’s stock valued at $3,751,000 after acquiring an additional 2,808 shares in the last quarter. Argent Trust Co bought a new position in shares of Atlassian during the third quarter worth about $297,000. Janney Montgomery Scott LLC lifted its holdings in Atlassian by 32.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,081 shares of the technology company’s stock worth $4,047,000 after buying an additional 4,969 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Atlassian by 3.5% during the third quarter. D.A. Davidson & CO. now owns 2,184 shares of the technology company’s stock worth $440,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $157.52, for a total value of $1,298,122.32. Following the transaction, the chief executive officer now directly owns 127,461 shares in the company, valued at $20,077,656.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $157.52, for a total transaction of $1,298,122.32. Following the transaction, the chief executive officer now owns 127,461 shares in the company, valued at approximately $20,077,656.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 4,856 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $184.26, for a total value of $894,766.56. Following the sale, the president now directly owns 156,994 shares in the company, valued at approximately $28,927,714.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 284,126 shares of company stock valued at $53,540,046. 40.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEAM. Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Piper Sandler lowered their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Truist Financial reduced their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, April 26th. Robert W. Baird decreased their price target on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, TD Cowen lowered their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $223.22.

Read Our Latest Stock Analysis on TEAM

Atlassian Stock Performance

NASDAQ TEAM opened at $163.46 on Friday. Atlassian Co. has a 52-week low of $154.02 and a 52-week high of $258.69. The firm has a 50-day moving average of $183.42 and a 200-day moving average of $204.40. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

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

Atlassian Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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