Atlassian Co. (NASDAQ:TEAM) Position Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 81.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,236 shares of the technology company's stock after purchasing an additional 64,032 shares during the period. Canada Pension Plan Investment Board owned 0.05% of Atlassian worth $34,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Corebridge Financial Inc. lifted its stake in Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after buying an additional 35 shares during the period. Assetmark Inc. increased its stake in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP lifted 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 last quarter. GAMMA Investing LLC boosted its holdings in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after buying an additional 54 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Atlassian by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock worth $357,000 after buying an additional 56 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TEAM. The Goldman Sachs Group raised their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Barclays upped their target price on shares of Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. UBS Group dropped their price target on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. StockNews.com cut shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Finally, Mizuho boosted their price objective on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $297.73.

Atlassian Price Performance

TEAM traded up $7.97 during midday trading on Wednesday, reaching $208.27. 1,802,614 shares of the company's stock were exchanged, compared to its average volume of 2,050,290. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock has a market capitalization of $54.57 billion, a PE ratio of -155.42 and a beta of 1.07. 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 business's 50-day moving average price is $234.84 and its 200 day moving average price is $243.17.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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 analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $269.01, for a total transaction of $2,138,091.48. Following the completion of the sale, the chief executive officer now directly owns 349,712 shares of the company's stock, valued at $94,076,025.12. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,513 shares of company stock worth $66,621,566 in the last ninety days. Insiders own 38.55% of the company's stock.

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.