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

Impax Asset Management Group plc increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 590.6% in the third quarter, HoldingsChannel.com reports. The firm owned 37,402 shares of the technology company’s stock after acquiring an additional 31,986 shares during the quarter. Impax Asset Management Group plc’s holdings in Atlassian were worth $5,940,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Dragoneer Investment Group LLC acquired a new position in shares of Atlassian during the 2nd quarter worth about $469,803,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian during the second quarter worth about $91,072,000. Quadrature Capital Ltd purchased a new stake in shares of Atlassian in the 1st quarter valued at about $55,307,000. Finally, Swedbank AB acquired a new stake in shares of Atlassian in the 1st quarter valued at about $50,923,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $221.58 on Wednesday. The firm has a 50 day moving average of $175.52 and a 200-day moving average of $171.52. The company has a market cap of $57.62 billion, a price-to-earnings ratio of -145.78 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. Atlassian’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEAM. Raymond James boosted their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial upped their price target on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Barclays lowered their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Morgan Stanley increased their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, BMO Capital Markets boosted their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.16.

Insider Activity at Atlassian

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,269 shares of company stock valued at $42,006,228. Insiders own 38.55% 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.