iA Global Asset Management Inc. Buys 811 Shares of Atlassian Co. (NASDAQ:TEAM)

iA Global Asset Management Inc. grew its stake in Atlassian Co. (NASDAQ:TEAM) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,414 shares of the technology company’s stock after acquiring an additional 811 shares during the period. iA Global Asset Management Inc.’s holdings in Atlassian were worth $3,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Atlassian by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 18,278 shares of the technology company’s stock worth $4,348,000 after buying an additional 62 shares during the period. Global Retirement Partners LLC grew its holdings in Atlassian by 8.6% during the fourth quarter. Global Retirement Partners LLC now owns 946 shares of the technology company’s stock valued at $228,000 after purchasing an additional 75 shares during the period. Stonegate Investment Group LLC grew its holdings in Atlassian by 2.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,274 shares of the technology company’s stock valued at $1,730,000 after purchasing an additional 186 shares during the period. UMB Bank n.a. grew its holdings in Atlassian by 5.7% during the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after purchasing an additional 56 shares during the period. Finally, Lewis Asset Management LLC acquired a new position in Atlassian during the fourth quarter valued at approximately $2,373,000. 93.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEAM. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Oppenheimer cut their price objective on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, TD Cowen cut their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.88.

Atlassian Stock Performance

Shares of TEAM traded down $30.88 during trading hours on Friday, hitting $142.36. The company had a trading volume of 4,919,298 shares, compared to its average volume of 1,722,573. The firm has a market cap of $37.06 billion, a price-to-earnings ratio of -226.86 and a beta of 0.74. The business has a fifty day moving average of $170.10 and a 200-day moving average of $192.42. Atlassian Co. has a 12 month low of $141.37 and a 12 month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36. Following the transaction, the chief executive officer now directly owns 333,816 shares in the company, valued at $59,108,799.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36. Following the transaction, the chief executive officer now directly owns 333,816 shares in the company, valued at $59,108,799.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 4,856 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total transaction of $894,766.56. Following the completion of the transaction, the president now owns 156,994 shares in the company, valued at $28,927,714.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,285 shares of company stock worth $47,692,054. Corporate insiders own 40.48% of the company’s stock.

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.