iA Global Asset Management Inc. Has $3.52 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

iA Global Asset Management Inc. lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 9.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 22,146 shares of the technology company’s stock after acquiring an additional 1,984 shares during the period. iA Global Asset Management Inc.’s holdings in Atlassian were worth $3,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Asset Dedication LLC lifted its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Rothschild Investment LLC bought a new position in Atlassian in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC boosted its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new position in shares of Atlassian during the third quarter worth $48,000. 93.03% of the stock is currently owned by institutional investors.

Insider Activity at Atlassian

In other Atlassian news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total transaction of $825,000.00. Following the transaction, the director now owns 5,610 shares in the company, valued at approximately $1,542,750. This represents a 34.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $163.82, for a total transaction of $1,302,041.36. Following the completion of the transaction, the director now directly owns 119,220 shares in the company, valued at $19,530,620.40. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 268,642 shares of company stock valued at $55,234,863 in the last three months. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEAM. Canaccord Genuity Group raised their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group lifted their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Robert W. Baird lifted their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Mizuho upped their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” 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.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $249.74.

Atlassian Stock Performance

NASDAQ:TEAM opened at $278.50 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a fifty day moving average of $217.88 and a 200-day moving average of $183.13. The firm has a market capitalization of $72.53 billion, a P/E ratio of -183.22 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

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.