Investment Management Corp of Ontario Purchases 2,850 Shares of Atlassian Co. (NASDAQ:TEAM)

Investment Management Corp of Ontario lifted its position in Atlassian Co. (NASDAQ:TEAM) by 53.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,191 shares of the technology company’s stock after buying an additional 2,850 shares during the period. Investment Management Corp of Ontario’s holdings in Atlassian were worth $1,994,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian in the 4th quarter valued at $687,486,000. Invesco Ltd. increased its position in shares of Atlassian by 265.9% in the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock valued at $528,851,000 after buying an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 0.5%

Shares of NASDAQ:TEAM opened at $207.25 on Monday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a market capitalization of $54.30 billion, a P/E ratio of -154.66 and a beta of 1.06. The company has a 50-day simple moving average of $215.36 and a 200 day simple moving average of $246.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $0.89 EPS. Atlassian’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on TEAM shares. Jefferies Financial Group lowered their price objective on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Scotiabank increased their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. BMO Capital Markets lowered their target price on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their target price on Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Monday, March 31st. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong 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 $285.29.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now directly owns 52,142 shares in the company, valued at $16,272,475.36. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52. Following the sale, the chief executive officer now owns 254,336 shares of the company’s stock, valued at $80,304,048.64. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,786 shares of company stock worth $59,536,362. Insiders own 38.55% of the company’s stock.

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.