Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in Atlassian Co. (NASDAQ:TEAM)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 59.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,432 shares of the technology company’s stock after selling 43,191 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Atlassian were worth $4,674,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Asset Dedication LLC raised its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the 2nd quarter worth $36,000. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in shares of Atlassian during the third quarter valued at about $48,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Up 0.4 %

TEAM opened at $263.58 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $269.40. The company has a market capitalization of $68.64 billion, a P/E ratio of -173.41 and a beta of 0.71. The stock’s fifty day moving average is $206.56 and its two-hundred day moving average is $179.85. 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 (NASDAQ:TEAM) last issued its earnings results 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. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned ($0.07) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the sale, the director now directly owns 151,012 shares of the company’s stock, valued at approximately $24,737,275.72. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 257,694 shares of company stock valued at $50,560,726 over the last ninety days. 38.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TEAM shares. Morgan Stanley increased their price target on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group increased their target price on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Piper Sandler boosted their price target on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial increased their price objective 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. Finally, Barclays reduced their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.