Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,450 shares of the technology company’s stock after acquiring an additional 157 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Atlassian were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after buying an additional 4,099 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Atlassian by 24.4% during the third quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after buying an additional 347 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Atlassian by 168.1% during the third quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock worth $1,631,000 after buying an additional 6,440 shares in the last quarter. Quest Partners LLC boosted its holdings in Atlassian by 18.3% during the third quarter. Quest Partners LLC now owns 2,135 shares of the technology company’s stock worth $339,000 after buying an additional 330 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Atlassian during the third quarter worth approximately $982,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Barclays raised their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group raised their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the completion of the transaction, the chief executive officer now owns 71,532 shares in the company, valued at $15,515,290.80. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $71,015,177 in the last quarter. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Up 0.5 %

Atlassian stock opened at $227.34 on Friday. The company has a market capitalization of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. The firm’s fifty day simple moving average is $271.24 and its 200-day simple moving average is $235.79. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly 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 net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Atlassian 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.