Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Invesco Ltd.

Invesco Ltd. lifted its stake in Atlassian Co. (NASDAQ:TEAM) by 265.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,445,440 shares of the technology company’s stock after buying an additional 1,777,179 shares during the quarter. Invesco Ltd. owned approximately 0.93% of Atlassian worth $595,171,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Bank of Montreal Can increased its holdings in Atlassian by 79.5% in the 4th quarter. Bank of Montreal Can now owns 151,222 shares of the technology company’s stock worth $36,804,000 after acquiring an additional 66,960 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Atlassian during the fourth quarter worth about $330,000. Cerity Partners LLC increased its stake in shares of Atlassian by 17.4% during the fourth quarter. Cerity Partners LLC now owns 21,148 shares of the technology company’s stock worth $5,147,000 after purchasing an additional 3,131 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Atlassian by 99.8% during the 4th quarter. Federated Hermes Inc. now owns 1,998 shares of the technology company’s stock worth $486,000 after purchasing an additional 998 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co lifted its stake in Atlassian by 20.0% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 60,000 shares of the technology company’s stock valued at $14,603,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several research reports. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. UBS Group dropped their target price on shares of Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, April 1st. Macquarie raised their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Truist Financial dropped their price objective on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley increased their price objective on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.64.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares in the company, valued at $16,272,475.36. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 270,981 shares of company stock worth $71,384,361. 38.55% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of Atlassian stock opened at $186.61 on Tuesday. The stock has a market cap of $48.89 billion, a PE ratio of -139.26 and a beta of 1.07. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $262.42 and a 200-day simple moving average of $240.89.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.