CI Investments Inc. Decreases Stock Position in Atlassian Co. (NASDAQ:TEAM)

CI Investments Inc. lowered its stake in Atlassian Co. (NASDAQ:TEAMGet Rating) by 99.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 653 shares of the technology company’s stock after selling 69,897 shares during the quarter. CI Investments Inc.’s holdings in Atlassian were worth $84,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TEAM. Guinness Atkinson Asset Management Inc purchased a new stake in Atlassian in the 4th quarter worth $30,000. Sonnipe Ltd purchased a new stake in shares of Atlassian during the 4th quarter valued at about $36,000. Ridgewood Investments LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $42,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Atlassian by 155.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 330 shares of the technology company’s stock valued at $42,000 after buying an additional 201 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Atlassian during the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 45.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. KeyCorp increased their price objective on shares of Atlassian from $174.00 to $187.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. The Goldman Sachs Group downgraded shares of Atlassian from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $240.00 to $165.00 in a research note on Friday, May 5th. Robert W. Baird dropped their target price on shares of Atlassian from $190.00 to $175.00 in a research note on Friday, May 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $200.00 target price on shares of Atlassian in a research note on Monday, April 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $197.74.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,699 shares of Atlassian stock in a transaction on Monday, May 15th. The shares were sold at an average price of $142.53, for a total value of $669,748.47. Following the completion of the transaction, the president now owns 213,479 shares of the company’s stock, valued at $30,427,161.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, President Anutthara Bharadwaj sold 4,699 shares of Atlassian stock in a transaction on Monday, May 15th. The shares were sold at an average price of $142.53, for a total value of $669,748.47. Following the completion of the transaction, the president now owns 213,479 shares of the company’s stock, valued at $30,427,161.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gene Liu sold 275 shares of Atlassian stock in a transaction on Friday, May 19th. The shares were sold at an average price of $146.11, for a total transaction of $40,180.25. Following the completion of the transaction, the insider now directly owns 49,629 shares of the company’s stock, valued at approximately $7,251,293.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,112 shares of company stock valued at $48,192,808. Corporate insiders own 43.11% of the company’s stock.

Atlassian Trading Down 1.1 %

NASDAQ TEAM opened at $158.88 on Friday. The company has a fifty day simple moving average of $153.05 and a two-hundred day simple moving average of $149.42. The stock has a market cap of $40.83 billion, a P/E ratio of -76.75 and a beta of 0.82. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $300.29. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67.

Atlassian (NASDAQ:TEAMGet Rating) last issued its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. The business had revenue of $915.45 million for the quarter, compared to analysts’ expectations of $898.71 million. On average, analysts forecast that Atlassian Co. will post -0.83 earnings per share for the current year.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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