Impax Asset Management Group plc Raises Stake in Atlassian Co. (NASDAQ:TEAM)

Impax Asset Management Group plc grew its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 590.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,402 shares of the technology company's stock after buying 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.

A number of other large investors also recently modified their holdings of TEAM. Sequoia Financial Advisors LLC raised its position in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian during the 3rd quarter worth approximately $97,350,000. Aigen Investment Management LP acquired a new position in Atlassian in the 3rd quarter valued at approximately $2,232,000. National Pension Service raised its stake in shares of Atlassian by 8.4% during the third quarter. National Pension Service now owns 296,066 shares of the technology company's stock valued at $47,018,000 after acquiring an additional 22,883 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of 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 purchasing an additional 78,454 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the completion of the transaction, the chief executive officer now directly owns 214,596 shares of the company's stock, valued at approximately $33,674,404.32. This represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the transaction, the chief technology officer now owns 204,109 shares of the company's stock, valued at $38,780,710. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,248 shares of company stock worth $45,553,294 in the last 90 days. Insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TEAM shares. Robert W. Baird upped their price target on Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Scotiabank increased their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a "hold" rating in a research report on Friday, August 2nd. UBS Group lifted their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $244.21.

Atlassian Stock Down 4.0 %

TEAM traded down $9.95 during midday trading on Friday, reaching $240.04. 2,279,443 shares of the company were exchanged, compared to its average volume of 1,864,679. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company's fifty day moving average price is $187.95 and its 200 day moving average price is $174.58. The company has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business's revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. As a group, analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Atlassian Company 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.