Bank of Montreal Can Acquires 66,960 Shares of Atlassian Co. (NASDAQ:TEAM)

Bank of Montreal Can grew its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 79.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,222 shares of the technology company's stock after acquiring an additional 66,960 shares during the period. Bank of Montreal Can owned 0.06% of Atlassian worth $36,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corebridge Financial Inc. grew its stake in Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the last quarter. Allworth Financial LP grew its stake in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC increased its holdings in Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after buying an additional 54 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Atlassian by 4.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock worth $357,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

NASDAQ TEAM traded up $2.41 during trading on Wednesday, hitting $209.66. 831,447 shares of the company's stock were exchanged, compared to its average volume of 2,038,099. The stock's 50 day moving average price is $246.50 and its two-hundred day moving average price is $241.83. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $54.93 billion, a PE ratio of -156.46 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the sale, the chief executive officer now directly owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,033 shares of company stock worth $67,893,043. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group decreased their price objective on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. BMO Capital Markets reduced their price target on Atlassian from $360.00 to $295.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Stephens restated an "equal weight" rating and issued a $255.00 price objective on shares of Atlassian in a research note on Monday. Citigroup raised their price objective on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $320.00 to $255.00 in a report on Monday. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $297.73.

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.