OMERS ADMINISTRATION Corp Sells 4,669 Shares of Atlassian Co. (NASDAQ:TEAM)

OMERS ADMINISTRATION Corp cut its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 28.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,829 shares of the technology company's stock after selling 4,669 shares during the period. OMERS ADMINISTRATION Corp's holdings in Atlassian were worth $2,879,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC boosted its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the 4th quarter valued at $39,000. Finally, Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Trading Down 0.0%

TEAM stock traded down $0.09 during trading on Friday, hitting $220.79. 1,730,232 shares of the company traded hands, compared to its average volume of 2,099,994. The company has a 50-day moving average of $213.63 and a 200-day moving average of $247.20. 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 1 year low of $135.29 and a 1 year high of $326.00. The firm has a market capitalization of $57.96 billion, a PE ratio of -164.77 and a beta of 1.06.

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 for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business's quarterly revenue was up 14.1% compared to the same quarter last year. Analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 541 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares in the company, valued at $11,609,480.31. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now owns 199,934 shares of the company's stock, valued at approximately $61,147,814.56. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,301 shares of company stock valued at $60,975,089 in the last quarter. Company insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TEAM. Macquarie reduced their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets dropped their price target on Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. UBS Group decreased their price objective on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Barclays lowered their target price on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research note 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Company 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.