Connor Clark & Lunn Investment Management Ltd. Has $25.21 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 25.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,564 shares of the technology company’s stock after selling 35,845 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Atlassian were worth $25,205,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after purchasing an additional 4,099 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Atlassian by 18.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock worth $224,000 after purchasing an additional 221 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Atlassian by 140.4% during the 3rd quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock worth $767,000 after purchasing an additional 2,819 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Atlassian by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock worth $58,165,000 after purchasing an additional 6,470 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Atlassian by 24.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after purchasing an additional 347 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Up 1.0 %

Shares of TEAM stock opened at $226.44 on Thursday. The firm has a 50 day moving average price of $274.77 and a two-hundred day moving average price of $233.52. 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 company has a market capitalization of $59.33 billion, a PE ratio of -168.98 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

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

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24. Following the completion of the sale, the chief executive officer now directly owns 79,480 shares in the company, valued at approximately $22,105,772.40. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares of the company’s stock, valued at approximately $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. Insiders sold 264,553 shares of company stock worth $72,358,556 over the last three months. Insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TEAM. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Morgan Stanley raised their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial restated a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

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.