Impax Asset Management Group plc Reduces Stake in Atlassian Co. (NASDAQ:TEAM)

Impax Asset Management Group plc lowered its position in Atlassian Co. (NASDAQ:TEAM) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,584 shares of the technology company’s stock after selling 4,818 shares during the period. Impax Asset Management Group plc’s holdings in Atlassian were worth $7,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Hardman Johnston Global Advisors LLC boosted its position in Atlassian by 0.8% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 528,349 shares of the technology company’s stock valued at $128,590,000 after buying an additional 4,421 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Atlassian by 64.2% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 31,292 shares of the technology company’s stock valued at $7,616,000 after buying an additional 12,239 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Atlassian in the fourth quarter valued at approximately $2,976,000. Howard Capital Management Inc. boosted its position in Atlassian by 3.2% in the fourth quarter. Howard Capital Management Inc. now owns 4,369 shares of the technology company’s stock valued at $1,063,000 after buying an additional 134 shares during the last quarter. Finally, Fisher Funds Management LTD purchased a new stake in Atlassian in the 4th quarter worth approximately $47,469,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TEAM shares. Barclays upped their price objective on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price objective on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Mizuho upped their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Cantor Fitzgerald upped their price objective on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group upped their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Stock Down 0.7 %

NASDAQ TEAM opened at $284.06 on Tuesday. The business has a fifty day moving average price of $273.10 and a 200 day moving average price of $224.90. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $74.42 billion, a P/E ratio of -211.98 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04. Following the completion of the sale, the chief executive officer now directly owns 174,856 shares of the company’s stock, valued at $45,765,060.88. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the sale, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at $52,849,944.78. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock valued at $75,480,290 in the last three months. 38.55% of the stock is currently owned by insiders.

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.