Atlassian Co. (NASDAQ:TEAM) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in Atlassian Co. (NASDAQ:TEAMFree Report) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 27,112 shares of the technology company’s stock after purchasing an additional 849 shares during the quarter. CIBC Asset Management Inc’s holdings in Atlassian were worth $6,449,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Arkadios Wealth Advisors acquired a new position in shares of Atlassian during the 4th quarter worth about $202,000. American Century Companies Inc. grew its position in shares of Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after buying an additional 159,102 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Atlassian during the fourth quarter worth about $13,805,000. Royal Bank of Canada boosted its position in shares of Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the period. Finally, Alberta Investment Management Corp grew its stake in Atlassian by 16.1% during the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock worth $22,885,000 after buying an additional 13,328 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of recent research reports. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Oppenheimer dropped their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Truist Financial lowered their target price on Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, Citigroup decreased their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $223.22.

View Our Latest Report on TEAM

Atlassian Stock Performance

TEAM stock opened at $157.88 on Thursday. The stock’s 50 day simple moving average is $184.05 and its 200 day simple moving average is $204.69. Atlassian Co. has a 12-month low of $154.02 and a 12-month high of $258.69. The firm has a market cap of $41.10 billion, a P/E ratio of -250.60 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAMGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. As a group, equities research analysts predict that Atlassian Co. will post -0.23 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Monday, March 11th. The stock was sold at an average price of $214.32, for a total transaction of $1,766,211.12. Following the sale, the chief executive officer now owns 107,133 shares of the company’s stock, valued at approximately $22,960,744.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $214.32, for a total transaction of $1,766,211.12. Following the transaction, the chief executive officer now owns 107,133 shares in the company, valued at $22,960,744.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 4,856 shares of Atlassian stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total value of $894,766.56. Following the transaction, the president now owns 156,994 shares in the company, valued at $28,927,714.44. The disclosure for this sale can be found here. Insiders have sold a total of 275,885 shares of company stock valued at $52,241,924 in the last quarter. Company insiders own 40.48% of the company’s stock.

Atlassian Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. (NASDAQ:TEAMFree Report).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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