Atlassian Corporation PLC (NASDAQ:TEAM) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 83.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,540 shares of the technology company's stock after selling 27,044 shares during the period. Impax Asset Management Group plc's holdings in Atlassian were worth $1,176,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian in the fourth quarter valued at $687,486,000. Invesco Ltd. grew its position in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC grew its position in shares of Atlassian by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Atlassian by 17,941.0% in the fourth 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 during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $225.64, for a total value of $1,793,386.72. Following the completion of the transaction, the chief executive officer directly owned 206,648 shares of the company's stock, valued at $46,628,054.72. This represents a 3.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $206.80, for a total value of $1,643,646.40. Following the completion of the transaction, the director directly owned 174,856 shares of the company's stock, valued at $36,160,220.80. This trade represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 402,867 shares of company stock valued at $84,057,644 over the last ninety days. Corporate insiders own 38.55% of the company's stock.

Analyst Ratings Changes

TEAM has been the subject of a number of recent analyst reports. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Raymond James Financial reiterated an "outperform" rating and issued a $300.00 target price (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Morgan Stanley reduced their target price on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial reduced their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Macquarie reduced their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Atlassian Stock Up 1.2%

Atlassian stock traded up $2.52 during midday trading on Monday, hitting $216.05. The stock had a trading volume of 2,102,705 shares, compared to its average volume of 2,158,809. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $56.72 billion, a P/E ratio of -130.15 and a beta of 0.94. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The business has a fifty day moving average price of $209.58 and a 200 day moving average price of $235.45.

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