Daiwa Securities Group Inc. raised its position in shares of Atlassian Co. Plc (NASDAQ:TEAM) by 70.5% in the first quarter, HoldingsChannel reports. The firm owned 17,719 shares of the technology company’s stock after acquiring an additional 7,324 shares during the period. Daiwa Securities Group Inc.’s holdings in Atlassian were worth $3,733,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Veriti Management LLC bought a new stake in Atlassian during the 4th quarter valued at $25,000. Neo Ivy Capital Management purchased a new position in shares of Atlassian in the 4th quarter valued at $28,000. Defined Wealth Management LLC purchased a new position in shares of Atlassian in the 4th quarter valued at $36,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Atlassian in the 4th quarter valued at $47,000. Finally, Parallel Advisors LLC increased its holdings in shares of Atlassian by 127.3% in the 1st quarter. Parallel Advisors LLC now owns 225 shares of the technology company’s stock valued at $47,000 after acquiring an additional 126 shares during the period. 91.46% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Atlassian from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Friday, January 29th. Morgan Stanley lifted their price target on Atlassian from $275.00 to $292.00 and gave the company an “overweight” rating in a report on Thursday, May 6th. Canaccord Genuity boosted their target price on Atlassian from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 6th. DA Davidson boosted their target price on Atlassian from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, April 20th. Finally, Wells Fargo & Company boosted their target price on Atlassian from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $253.35.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams.
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