Atlassian Co. (NASDAQ:TEAM) Position Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 19.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,681 shares of the technology company's stock after purchasing an additional 18,267 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Atlassian were worth $27,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in Atlassian during the fourth quarter valued at about $687,486,000. Voya Investment Management LLC boosted its position in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Atlassian by 265.9% in the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP lifted its stake in Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Canaccord Genuity Group dropped their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. KeyCorp reduced their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company dropped their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $209.17 on Thursday. The company has a market capitalization of $54.91 billion, a P/E ratio of -156.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The business's 50-day moving average price is $213.33 and its two-hundred day moving average price is $247.04.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating 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 net margin of 7.22% and a negative return on equity of 17.37%. Atlassian's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. Analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 7,674 shares of Atlassian stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares in the company, valued at approximately $43,356,552.60. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $289.77, for a total value of $2,303,091.96. Following the transaction, the director now directly owns 182,804 shares of the company's stock, valued at $52,971,115.08. This represents a 4.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 287,055 shares of company stock valued at $63,723,335. Company insiders own 38.55% of the company's stock.

Atlassian 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.

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