National Bank of Canada FI boosted its stake in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 18,867.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,565 shares of the technology company’s stock after purchasing an additional 157,729 shares during the quarter. National Bank of Canada FI owned about 0.06% of Atlassian worth $20,404,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in Atlassian by 2.5% in the third quarter. Pacer Advisors Inc. now owns 4,245 shares of the technology company’s stock valued at $894,000 after purchasing an additional 105 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Atlassian by 6.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,521 shares of the technology company’s stock valued at $1,584,000 after purchasing an additional 452 shares during the last quarter. Tiger Global Management LLC increased its holdings in Atlassian by 13.2% in the third quarter. Tiger Global Management LLC now owns 1,722,503 shares of the technology company’s stock valued at $362,742,000 after purchasing an additional 200,703 shares during the last quarter. Strategic Advisors LLC bought a new stake in Atlassian in the fourth quarter valued at about $204,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Atlassian by 324.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 27,528 shares of the technology company’s stock valued at $5,797,000 after purchasing an additional 21,037 shares during the last quarter. Institutional investors own 45.50% of the company’s stock.
Analyst Upgrades and Downgrades
TEAM has been the subject of a number of research analyst reports. Barclays initiated coverage on Atlassian in a research note on Thursday, December 15th. They issued an “equal weight” rating and a $155.00 target price for the company. Wells Fargo & Company decreased their target price on Atlassian from $250.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. Piper Sandler boosted their target price on Atlassian from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Morgan Stanley decreased their target price on Atlassian from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Finally, Jefferies Financial Group boosted their target price on Atlassian from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, January 19th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.11.
Atlassian Trading Up 6.6 %
Atlassian (NASDAQ:TEAM – Get Rating) last released its earnings results on Thursday, February 2nd. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.33). Atlassian had a negative return on equity of 73.57% and a negative net margin of 11.17%. The company had revenue of $872.70 million for the quarter, compared to the consensus estimate of $842.45 million. As a group, equities research analysts forecast that Atlassian Co. will post -0.84 earnings per share for the current fiscal year.
Insider Buying and Selling at Atlassian
In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $122.27, for a total value of $1,053,233.78. Following the sale, the chief executive officer now owns 508,226 shares in the company, valued at $62,140,793.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $122.27, for a total value of $1,053,233.78. Following the sale, the chief executive officer now owns 508,226 shares in the company, valued at $62,140,793.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gene Liu sold 238 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $180.79, for a total value of $43,028.02. Following the completion of the sale, the insider now owns 50,413 shares in the company, valued at approximately $9,114,166.27. The disclosure for this sale can be found here. Insiders have sold 264,101 shares of company stock worth $41,881,374 over the last 90 days. Company insiders own 43.11% of the company’s stock.
Atlassian Company Profile
Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.
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