TD Asset Management Inc Has $63.74 Million Stake in Atlassian Co. (NASDAQ:TEAM)

TD Asset Management Inc grew its position in Atlassian Co. (NASDAQ:TEAM) by 18.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 360,327 shares of the technology company’s stock after purchasing an additional 56,775 shares during the period. TD Asset Management Inc’s holdings in Atlassian were worth $63,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its position in shares of Atlassian by 23.6% in the second quarter. Foundations Investment Advisors LLC now owns 3,259 shares of the technology company’s stock valued at $576,000 after purchasing an additional 622 shares during the last quarter. Founders Financial Securities LLC grew its position in shares of Atlassian by 4.9% in the second quarter. Founders Financial Securities LLC now owns 2,201 shares of the technology company’s stock valued at $389,000 after purchasing an additional 102 shares during the last quarter. Rhumbline Advisers grew its position in shares of Atlassian by 3.1% in the second quarter. Rhumbline Advisers now owns 194,308 shares of the technology company’s stock valued at $34,369,000 after purchasing an additional 5,825 shares during the last quarter. Versor Investments LP acquired a new position in shares of Atlassian in the second quarter valued at approximately $1,910,000. Finally, CIBC Asset Management Inc grew its position in shares of Atlassian by 4.4% in the second quarter. CIBC Asset Management Inc now owns 30,584 shares of the technology company’s stock valued at $5,410,000 after purchasing an additional 1,276 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TEAM shares. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Truist Financial cut their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Scotiabank cut their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Mizuho cut their price target on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Finally, Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Insider Activity

In other news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $162.20, for a total value of $1,289,165.60. Following the completion of the transaction, the chief executive officer now directly owns 103,324 shares in the company, valued at approximately $16,759,152.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $162.20, for a total value of $1,289,165.60. Following the completion of the sale, the chief executive officer now directly owns 103,324 shares in the company, valued at $16,759,152.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 256,055 shares of company stock worth $42,720,983. Insiders own 40.48% of the company’s stock.

Atlassian Stock Down 0.4 %

Shares of TEAM opened at $161.31 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The stock has a market capitalization of $41.95 billion, a price-to-earnings ratio of -256.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a fifty day moving average of $165.86 and a 200-day moving average of $178.87.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned ($0.21) EPS. Atlassian’s revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

About Atlassian

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.