Caisse DE Depot ET Placement DU Quebec Reduces Stock Position in Atlassian Co. (NASDAQ:TEAM)

Caisse DE Depot ET Placement DU Quebec lessened its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,196 shares of the technology company's stock after selling 4,264 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Atlassian were worth $5,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian during the 2nd quarter worth $469,803,000. Manning & Napier Advisors LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at approximately $91,072,000. Westfield Capital Management Co. LP acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $57,149,000. Parnassus Investments LLC raised its position in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company's stock valued at $51,016,000 after buying an additional 245,286 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Atlassian by 657.5% in the second quarter. Assenagon Asset Management S.A. now owns 239,509 shares of the technology company's stock valued at $42,364,000 after acquiring an additional 207,891 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Atlassian from $250.00 to $300.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on Atlassian from $175.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Piper Sandler upped their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a "market perform" rating in a research report on Friday, November 1st. Finally, Scotiabank upped their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a "sector perform" rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $244.21.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88. Following the completion of the sale, the chief executive officer now directly owns 500,724 shares of the company's stock, valued at $80,020,702.44. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 265,642 shares of company stock worth $53,473,430. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

NASDAQ TEAM traded up $2.48 on Tuesday, reaching $268.36. The stock had a trading volume of 1,387,193 shares, compared to its average volume of 1,860,571. The business's 50-day moving average price is $210.75 and its 200 day moving average price is $181.01. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $269.40. The stock has a market cap of $69.89 billion, a P/E ratio of -176.55 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.16 billion. During the same period in the previous year, the business posted ($0.07) earnings per share. Atlassian's quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities analysts expect that Atlassian Co. will post -0.54 earnings per share 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.