Ontario Teachers Pension Plan Board Buys 4,388 Shares of Atlassian Co. (NASDAQ:TEAM)

Ontario Teachers Pension Plan Board lifted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 67.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,858 shares of the technology company's stock after acquiring an additional 4,388 shares during the period. Ontario Teachers Pension Plan Board's holdings in Atlassian were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company's stock worth $88,000 after acquiring an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company's stock worth $96,000 after acquiring an additional 291 shares in the last quarter. Operose Advisors LLC purchased a new stake in shares of Atlassian during the 3rd quarter worth about $99,000. GAMMA Investing LLC purchased a new stake in shares of Atlassian during the 4th quarter worth about $107,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Atlassian by 30.4% during the 4th quarter. Valley National Advisers Inc. now owns 579 shares of the technology company's stock worth $137,000 after acquiring an additional 135 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 582 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $215.00, for a total transaction of $125,130.00. Following the transaction, the chief accounting officer now owns 45,865 shares of the company's stock, valued at $9,860,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Gene Liu sold 582 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $215.00, for a total transaction of $125,130.00. Following the completion of the transaction, the chief accounting officer now owns 45,865 shares of the company's stock, valued at $9,860,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00. Following the transaction, the president now directly owns 163,370 shares of the company's stock, valued at approximately $32,845,538.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 294,224 shares of company stock valued at $56,918,238. Company insiders own 40.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TEAM. Wells Fargo & Company lifted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Robert W. Baird dropped their price target on shares of Atlassian from $270.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group boosted their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. Canaccord Genuity Group dropped their price target on shares of Atlassian from $260.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, April 26th. Finally, UBS Group dropped their price target on shares of Atlassian from $260.00 to $250.00 and set a "neutral" rating on the stock in a research note on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $223.22.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $0.62 on Thursday, hitting $174.18. The company's stock had a trading volume of 1,054,268 shares, compared to its average volume of 1,695,608. Atlassian Co. has a 12-month low of $156.05 and a 12-month high of $258.69. The company has a market capitalization of $45.34 billion, a price-to-earnings ratio of -276.48 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a 50 day moving average of $190.45 and a 200-day moving average of $205.80.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company's quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. As a group, research analysts predict that Atlassian Co. will post -0.23 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.