Atlassian Co. (NASDAQ:TEAM) Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Atlassian Co. (NASDAQ:TEAM) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,681 shares of the technology company’s stock after purchasing an additional 1,739 shares during the period. CIBC Asset Management Inc’s holdings in Atlassian were worth $8,197,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in Atlassian during the third quarter valued at approximately $606,000. Sequoia Financial Advisors LLC increased its holdings in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after acquiring an additional 520 shares during the last quarter. Fulton Bank N.A. acquired a new stake in shares of Atlassian during the 4th quarter valued at approximately $447,000. Paloma Partners Management Co bought a new position in Atlassian during the third quarter worth $1,588,000. Finally, Impax Asset Management Group plc boosted its holdings in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the completion of the transaction, the chief executive officer now owns 230,492 shares in the company, valued at $72,362,963.40. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total value of $825,000.00. Following the sale, the director now owns 5,610 shares in the company, valued at approximately $1,542,750. The trade was a 34.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 273,778 shares of company stock worth $74,688,580. 38.55% of the stock is owned by insiders.

Atlassian Stock Down 3.7 %

TEAM opened at $303.72 on Thursday. 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 capitalization of $79.57 billion, a PE ratio of -226.66 and a beta of 0.87. The stock’s fifty day moving average is $272.45 and its 200-day moving average is $221.16. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Raymond James restated an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Mizuho increased their price target on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Jefferies Financial Group raised their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company upped their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.71.

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.