FUKOKU MUTUAL LIFE INSURANCE Co Acquires New Position in Atlassian Corporation PLC (NASDAQ:TEAM)

FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,280 shares of the technology company’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in Atlassian in the 1st quarter valued at about $212,000. Rational Advisors Inc. bought a new stake in Atlassian in the 1st quarter valued at about $1,889,000. Xponance Inc. raised its stake in Atlassian by 3.1% in the 1st quarter. Xponance Inc. now owns 30,929 shares of the technology company’s stock valued at $6,563,000 after acquiring an additional 943 shares during the period. Cerity Partners LLC raised its stake in Atlassian by 73.4% in the 1st quarter. Cerity Partners LLC now owns 36,664 shares of the technology company’s stock valued at $7,780,000 after acquiring an additional 15,516 shares during the period. Finally, Alps Advisors Inc. raised its stake in Atlassian by 18.5% in the 1st quarter. Alps Advisors Inc. now owns 8,320 shares of the technology company’s stock valued at $1,766,000 after acquiring an additional 1,298 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TEAM. UBS Group reiterated a “hold” rating on shares of Atlassian in a research report on Monday. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. KeyCorp decreased their price target on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group decreased their price target on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $285.75.

Atlassian Stock Down 6.5%

TEAM stock opened at $187.01 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $207.96 and its 200 day moving average is $234.00. The stock has a market cap of $49.09 billion, a price-to-earnings ratio of -112.66 and a beta of 0.94. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. Atlassian’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $219.98, for a total value of $1,686,146.70. Following the completion of the sale, the chief executive officer owned 444,570 shares of the company’s stock, valued at $97,796,508.60. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $219.98, for a total value of $1,686,146.70. Following the completion of the sale, the director directly owned 444,570 shares of the company’s stock, valued at approximately $97,796,508.60. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,631 shares of company stock valued at $87,606,665. 38.55% of the stock is owned by insiders.

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.