Investment Management Corp of Ontario Purchases 2,850 Shares of Atlassian Co. (NASDAQ:TEAM)

Investment Management Corp of Ontario boosted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 53.4% during 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 acquiring an additional 2,850 shares during the period. Investment Management Corp of Ontario’s holdings in Atlassian were worth $1,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp bought a new position in Atlassian during the fourth quarter valued at about $27,000. Colonial Trust Co SC increased its stake in Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the period. Summit Securities Group LLC bought a new position in Atlassian during the fourth quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian during the fourth quarter valued at about $39,000. Finally, Avion Wealth increased its stake in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Down 0.5%

NASDAQ:TEAM opened at $207.25 on Monday. The stock’s fifty day moving average price is $215.36 and its two-hundred day moving average price is $246.41. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $54.30 billion, a price-to-earnings ratio of -154.66 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Stephens lowered their price target on Atlassian from $255.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Finally, Mizuho upped their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.58, for a total value of $475,121.60. Following the transaction, the president now owns 201,657 shares of the company’s stock, valued at $63,033,945.06. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52. Following the completion of the transaction, the chief executive officer now directly owns 254,336 shares in the company, valued at approximately $80,304,048.64. This trade represents a 3.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,786 shares of company stock valued at $59,536,362. 38.55% of the stock is currently owned by corporate insiders.

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.