Impax Asset Management Group plc Cuts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Impax Asset Management Group plc trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,584 shares of the technology company’s stock after selling 4,818 shares during the quarter. Impax Asset Management Group plc’s holdings in Atlassian were worth $7,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake 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 buying an additional 78,454 shares during the period. State Street Corp boosted its stake in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after buying an additional 8,957 shares during the period. JPMorgan Chase & Co. boosted its stake in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after buying an additional 131,621 shares during the period. FMR LLC boosted its stake in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after buying an additional 150,237 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after buying an additional 57,911 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the sale, the chief executive officer now owns 421,244 shares in the company, valued at approximately $99,788,491.16. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares in the company, valued at $16,867,727.10. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,501 shares of company stock worth $75,480,290. 38.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TEAM shares. Macquarie lifted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Raymond James reissued an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer boosted their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Canaccord Genuity Group boosted their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Performance

Shares of Atlassian stock opened at $284.06 on Tuesday. The company has a market capitalization of $74.42 billion, a PE ratio of -211.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50-day simple moving average of $273.10 and a two-hundred day simple moving average of $224.90. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.