Bank of Montreal Can Has $36.80 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Bank of Montreal Can boosted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 79.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,222 shares of the technology company's stock after acquiring an additional 66,960 shares during the period. Bank of Montreal Can owned 0.06% of Atlassian worth $36,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Virtu Financial LLC acquired a new position in Atlassian in the third quarter valued at about $606,000. Fulton Bank N.A. bought a new position in Atlassian during the 4th quarter worth approximately $447,000. Allworth Financial LP grew its holdings in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the period. Nordea Investment Management AB increased its stake in Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock valued at $7,458,000 after purchasing an additional 5,088 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock worth $1,710,000 after purchasing an additional 4,099 shares during the period. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEAM. Macquarie raised shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $317.00 to $270.00 in a report on Thursday. Raymond James restated an "outperform" rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. BMO Capital Markets dropped their price target on Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research report on Thursday. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.00.

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Atlassian Stock Performance

Shares of TEAM stock traded up $2.62 during trading on Monday, reaching $200.99. 2,031,297 shares of the company's stock were exchanged, compared to its average volume of 2,041,680. The firm's fifty day moving average price is $251.13 and its 200-day moving average price is $241.80. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The stock has a market capitalization of $52.66 billion, a PE ratio of -149.99 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares of the company's stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now directly owns 270,232 shares in the company, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,033 shares of company stock valued at $68,282,575. 38.55% of the stock is owned by insiders.

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.