Alberta Investment Management Corp Has $22.28 Million Stake in Atlassian Co. (NASDAQ:TEAM)

Alberta Investment Management Corp decreased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 14.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 91,538 shares of the technology company's stock after selling 14,900 shares during the period. Alberta Investment Management Corp's holdings in Atlassian were worth $22,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. State Street Corp boosted its position in shares of Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock worth $565,424,000 after buying an additional 8,957 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after buying an additional 131,621 shares during the period. FMR LLC increased its stake in Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock valued at $346,679,000 after buying an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock worth $340,453,000 after buying an additional 57,911 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TEAM. Truist Financial reiterated a "buy" rating and set a $350.00 target price (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. UBS Group increased their price objective on Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Cantor Fitzgerald upped their price target on shares of Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. JMP Securities restated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Citigroup upped their target price on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.71.

Insider Buying and Selling at Atlassian

In other news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total transaction of $825,000.00. Following the completion of the transaction, the director now directly owns 5,610 shares in the company, valued at $1,542,750. This trade represents a 34.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60. Following the completion of the transaction, the director now directly owns 190,752 shares in the company, valued at approximately $50,396,678.40. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,501 shares of company stock worth $75,215,542. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $12.50 during mid-day trading on Friday, hitting $285.99. 1,706,920 shares of the stock traded hands, compared to its average volume of 2,040,508. The company has a market cap of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $272.83 and a two-hundred day simple moving average of $221.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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, equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal 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.