Impax Asset Management Group plc Has $5.94 Million Stake in Atlassian Co. (NASDAQ:TEAM)

Impax Asset Management Group plc increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 590.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,402 shares of the technology company's stock after acquiring an additional 31,986 shares during the period. Impax Asset Management Group plc's holdings in Atlassian were worth $5,940,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Asset Dedication LLC boosted its position in Atlassian by 229.8% in the 2nd 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 boosted its position 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 buying an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new position in Atlassian in the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its position in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock valued at $37,000 after buying an additional 96 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Atlassian in the 1st quarter valued at $40,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Price Performance

Atlassian stock traded up $3.99 during midday trading on Wednesday, reaching $225.57. 2,417,049 shares of the company's stock were exchanged, compared to its average volume of 1,840,976. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock's 50-day simple moving average is $175.52 and its 200 day simple moving average is $171.52.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the company posted ($0.07) earnings per share. Atlassian's quarterly revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEAM. UBS Group increased 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. KeyCorp raised Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 price target on the stock in a research note on Friday, November 1st. BMO Capital Markets increased their price target on Atlassian from $177.00 to $255.00 and gave the company a "market perform" rating in a research note on Friday, November 1st. Capital One Financial raised Atlassian from an "equal weight" rating to an "overweight" rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group increased their price target on Atlassian from $225.00 to $255.00 and gave the company a "buy" rating in a research note 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $243.16.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now directly owns 224,436 shares in the company, valued at $50,599,096.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the sale, the director now owns 309,972 shares of the company's stock, valued at $67,905,566.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 237,269 shares of company stock worth $42,006,228. Company insiders own 38.55% of the company's stock.

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.