Atlassian Co. (NASDAQ:TEAM) Holdings Raised by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 79.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,222 shares of the technology company’s stock after acquiring an additional 66,960 shares during the period. Bank of Montreal Can’s holdings in Atlassian were worth $36,804,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TEAM. Polymer Capital Management US LLC acquired a new stake in Atlassian in the fourth quarter worth about $330,000. Cerity Partners LLC increased its stake in shares of Atlassian by 17.4% during the fourth quarter. Cerity Partners LLC now owns 21,148 shares of the technology company’s stock valued at $5,147,000 after acquiring an additional 3,131 shares during the period. Federated Hermes Inc. lifted its position in Atlassian by 99.8% in the fourth quarter. Federated Hermes Inc. now owns 1,998 shares of the technology company’s stock worth $486,000 after purchasing an additional 998 shares during the period. Ilmarinen Mutual Pension Insurance Co boosted its stake in Atlassian by 20.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 60,000 shares of the technology company’s stock valued at $14,603,000 after buying an additional 10,000 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Atlassian by 54.2% during the fourth quarter. Russell Investments Group Ltd. now owns 252,593 shares of the technology company’s stock worth $61,621,000 after acquiring an additional 88,742 shares during the period. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on TEAM shares. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Barclays upped their target price on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. JMP Securities restated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Citigroup upped their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $297.50.

Atlassian Stock Down 5.5 %

Atlassian stock opened at $198.03 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a fifty day moving average price of $253.50 and a two-hundred day moving average price of $241.00. The firm has a market cap of $51.88 billion, a price-to-earnings ratio of -147.78 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,723 shares of Atlassian stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now directly owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72. Following the completion of the transaction, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at approximately $99,788,491.16. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $68,608,284 over the last three months. 38.55% of the stock is currently owned by 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.