Impax Asset Management Group plc Sells 27,044 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Impax Asset Management Group plc cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 83.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,540 shares of the technology company's stock after selling 27,044 shares during the quarter. Impax Asset Management Group plc's holdings in Atlassian were worth $1,176,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TEAM. Clean Yield Group increased its stake in shares of Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after acquiring an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the 4th quarter worth about $27,000. Colonial Trust Co SC increased its stake in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian in the 4th quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian in the 4th quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total value of $1,640,080.05. Following the sale, the chief executive officer directly owned 467,565 shares in the company, valued at approximately $100,044,883.05. This trade represents a 1.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total transaction of $1,640,080.05. Following the completion of the sale, the director owned 467,565 shares in the company, valued at $100,044,883.05. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 402,867 shares of company stock valued at $84,057,644. 38.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Wells Fargo & Company lowered their price objective on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets lowered their price objective on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley decreased their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Macquarie reduced their price objective on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

Atlassian Stock Up 3.2%

NASDAQ TEAM opened at $213.43 on Monday. The firm has a market capitalization of $56.03 billion, a price-to-earnings ratio of -128.57 and a beta of 0.94. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $209.58 and a two-hundred day moving average of $235.45.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. On average, analysts predict that Atlassian Corporation PLC will post -0.34 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.