Toronto Dominion Bank Has $3.05 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Toronto Dominion Bank boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,238 shares of the technology company’s stock after buying an additional 1,201 shares during the period. Toronto Dominion Bank’s holdings in Atlassian were worth $3,049,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Asset Dedication LLC boosted its stake in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management boosted its holdings in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares during the last quarter. Trust Co. of Vermont grew its position in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian in the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Atlassian during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Scotiabank cut their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Mizuho lowered their price objective on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $217.69.

Atlassian Stock Performance

NASDAQ:TEAM opened at $161.22 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $160.31 and a 200 day simple moving average of $173.77. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The stock has a market cap of $41.92 billion, a P/E ratio of -255.90 and a beta of 0.73.

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

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at $41,329,441.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. The disclosure for this sale can be found here. Insiders have sold a total of 224,263 shares of company stock worth $37,424,892 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

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.