Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 590.6% during the 3rd quarter, Holdings Channel reports. The firm owned 37,402 shares of the technology company’s stock after buying an additional 31,986 shares during the period. Impax Asset Management Group plc’s holdings in Atlassian were worth $5,940,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC grew 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 valued at $306,000 after purchasing an additional 520 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Atlassian during the third quarter valued at approximately $97,350,000. Aigen Investment Management LP acquired a new stake in Atlassian during the third quarter worth approximately $2,232,000. National Pension Service boosted its position in Atlassian by 8.4% during the third quarter. National Pension Service now owns 296,066 shares of the technology company’s stock worth $47,018,000 after acquiring an additional 22,883 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Piper Sandler raised their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Truist Financial raised their target price on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now owns 182,804 shares of the company’s stock, valued at $30,127,927.24. The trade was a 4.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,248 shares of company stock valued at $45,553,294 in the last quarter. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $240.04 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71. The firm’s fifty day simple moving average is $186.37 and its 200 day simple moving average is $174.14. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted ($0.07) EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Co. will post -0.56 earnings per share 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.