Atlassian Co. (NASDAQ:TEAM) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,538 shares of the technology company’s stock after selling 14,900 shares during the period. Alberta Investment Management Corp’s holdings in Atlassian were worth $22,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TEAM. Creative Planning boosted its position in shares of Atlassian by 32.3% in the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock worth $1,262,000 after buying an additional 1,941 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares during the period. Signaturefd LLC boosted its position in shares of Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after buying an additional 111 shares during the period. Eastern Bank purchased a new stake in shares of Atlassian in the third quarter worth about $217,000. Finally, Stanley Laman Group Ltd. purchased a new stake in shares of Atlassian in the third quarter worth about $6,046,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $315.44 on Wednesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The business’s 50-day simple moving average is $270.89 and its 200 day simple moving average is $219.37. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $264.20, for a total transaction of $2,099,861.60. Following the completion of the transaction, the director now owns 190,752 shares in the company, valued at $50,396,678.40. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 265,830 shares of company stock worth $72,193,305 over the last quarter. Company insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TEAM. UBS Group upped their target price on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Piper Sandler boosted their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Macquarie boosted their price target on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.