Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 67.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,858 shares of the technology company’s stock after buying an additional 4,388 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Atlassian were worth $2,583,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TEAM. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares during the period. Operose Advisors LLC purchased a new stake in shares of Atlassian in the third quarter valued at $99,000. GAMMA Investing LLC purchased a new stake in shares of Atlassian in the fourth quarter valued at $107,000. Finally, Valley National Advisers Inc. grew its position in Atlassian by 30.4% during the fourth quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock valued at $137,000 after acquiring an additional 135 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. Citigroup lowered their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Wells Fargo & Company increased their target price on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. UBS Group lowered their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $223.22.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the sale, the chief executive officer now owns 325,245 shares of the company’s stock, valued at $56,264,132.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the sale, the chief executive officer now owns 325,245 shares of the company’s stock, valued at $56,264,132.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajeev Bashyam Rajan sold 2,302 shares of Atlassian stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $205.50, for a total value of $473,061.00. Following the sale, the chief technology officer now directly owns 135,620 shares of the company’s stock, valued at approximately $27,869,910. The disclosure for this sale can be found here. Insiders have sold 294,224 shares of company stock worth $56,918,238 in the last three months. 40.48% of the stock is currently owned by insiders.

Atlassian Price Performance

Shares of TEAM stock traded up $0.26 during mid-day trading on Thursday, hitting $175.06. 309,405 shares of the stock traded hands, compared to its average volume of 1,687,837. Atlassian Co. has a twelve month low of $156.05 and a twelve month high of $258.69. The firm has a market cap of $45.57 billion, a price-to-earnings ratio of -277.46 and a beta of 0.67. The company’s 50-day simple moving average is $191.11 and its 200-day simple moving average is $206.02. 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:TEAM) last issued its earnings results 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 business had revenue of $1.19 billion for 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 company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.40) EPS. As a group, equities research analysts expect that Atlassian Co. will post -0.23 earnings per share for the current 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.