Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Atlassian Co. (NASDAQ:TEAM)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,000 shares of the technology company’s stock, valued at approximately $4,281,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Atlassian by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after buying an additional 326,673 shares during the last quarter. WCM Investment Management LLC raised its position in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after buying an additional 249,017 shares during the last quarter. Baillie Gifford & Co. raised its position in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in Atlassian by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after buying an additional 255,653 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93. Following the sale, the chief executive officer now owns 32,964 shares of the company’s stock, valued at approximately $6,353,151.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Friday, June 14th. The shares were sold at an average price of $159.43, for a total transaction of $1,267,149.64. Following the sale, the chief executive officer now owns 71,532 shares of the company’s stock, valued at approximately $11,404,346.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $192.73, for a total transaction of $1,588,287.93. Following the sale, the chief executive officer now directly owns 32,964 shares in the company, valued at approximately $6,353,151.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,559 shares of company stock valued at $51,114,580. 40.48% of the stock is owned by company insiders.

Atlassian Trading Down 2.2 %

Atlassian stock opened at $153.18 on Wednesday. The company’s fifty day moving average price is $177.56 and its 200 day moving average price is $203.15. Atlassian Co. has a 1 year low of $152.70 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company earned ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, sell-side analysts forecast that Atlassian Co. will post -0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TEAM shares. Robert W. Baird reduced their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Canaccord Genuity Group reduced their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Truist Financial reduced their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $223.22.

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.