Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Impax Asset Management Group plc

Impax Asset Management Group plc boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 590.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 37,402 shares of the technology company’s stock after acquiring an additional 31,986 shares during the period. Impax Asset Management Group plc’s holdings in Atlassian were worth $5,940,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Atlassian by 123.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock worth $12,069,000 after purchasing an additional 34,204 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Atlassian by 12.9% during the first quarter. Sequoia Financial Advisors LLC now owns 1,540 shares of the technology company’s stock valued at $300,000 after acquiring an additional 176 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Atlassian by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 26,168 shares of the technology company’s stock valued at $5,106,000 after acquiring an additional 1,593 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Atlassian by 15,200.0% in the first quarter. Whittier Trust Co. now owns 765 shares of the technology company’s stock worth $149,000 after acquiring an additional 760 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Atlassian by 4.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,540 shares of the technology company’s stock worth $886,000 after acquiring an additional 179 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Atlassian stock opened at $221.58 on Wednesday. The company’s 50 day simple moving average is $175.52 and its 200-day simple moving average is $171.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a market capitalization of $57.62 billion, a price-to-earnings ratio of -145.78 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the sale, the president now directly owns 224,436 shares in the company, valued at $50,599,096.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $141.23, for a total transaction of $1,122,496.04. Following the completion of the transaction, the chief executive officer now directly owns 278,180 shares of the company’s stock, valued at $39,287,361.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the sale, the president now directly owns 224,436 shares in the company, valued at $50,599,096.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,269 shares of company stock valued at $42,006,228. Corporate insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TEAM shares. UBS Group raised their price objective on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group boosted their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price objective on shares of Atlassian from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Raymond James upped their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.16.

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.