Investment Management Corp of Ontario Has $1.99 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Investment Management Corp of Ontario lifted its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 53.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,191 shares of the technology company's stock after purchasing an additional 2,850 shares during the period. Investment Management Corp of Ontario's holdings in Atlassian were worth $1,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian during the fourth quarter worth about $687,486,000. Invesco Ltd. grew its holdings in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 holdings in 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. Institutional investors and hedge funds own 94.45% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TEAM shares. Stephens decreased their price objective on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group decreased their price objective on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Oppenheimer boosted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a research note on Monday, March 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Stock Performance

Shares of Atlassian stock traded down $4.64 during trading hours on Wednesday, reaching $224.88. The company's stock had a trading volume of 2,016,538 shares, compared to its average volume of 2,094,727. The company's 50 day simple moving average is $213.87 and its 200 day simple moving average is $246.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock has a market cap of $58.92 billion, a P/E ratio of -167.82 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $311.90, for a total transaction of $2,478,981.20. Following the transaction, the chief executive officer now directly owns 238,440 shares in the company, valued at approximately $74,369,436. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,786 shares of company stock worth $58,795,052 in the last ninety days. 38.55% of the stock is owned by insiders.

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.