Cibc World Markets Corp Sells 1,969 Shares of Atlassian Co. (NASDAQ:TEAM)

Cibc World Markets Corp cut its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,819 shares of the technology company's stock after selling 1,969 shares during the period. Cibc World Markets Corp's holdings in Atlassian were worth $2,633,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEAM. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Atlassian by 9.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the technology company's stock valued at $2,439,000 after acquiring an additional 865 shares during the last quarter. Natixis Advisors LLC lifted its position in Atlassian by 35.6% in the fourth quarter. Natixis Advisors LLC now owns 146,723 shares of the technology company's stock valued at $35,709,000 after purchasing an additional 38,486 shares during the last quarter. Sienna Gestion purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $4,298,000. LBP AM SA purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $1,638,000. Finally, Parnassus Investments LLC grew its holdings in shares of Atlassian by 1.3% in the fourth quarter. Parnassus Investments LLC now owns 325,367 shares of the technology company's stock worth $79,188,000 after purchasing an additional 4,127 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 779 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $255.45, for a total transaction of $2,030,316.60. Following the completion of the transaction, the chief executive officer now owns 23,844 shares of the company's stock, valued at approximately $6,090,949.80. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,085 shares of company stock valued at $68,986,450. Insiders own 38.55% of the company's stock.

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Atlassian Stock Performance

Shares of NASDAQ TEAM traded up $1.60 during midday trading on Tuesday, hitting $236.22. 1,531,234 shares of the stock traded hands, compared to its average volume of 2,239,081. The firm has a market capitalization of $61.89 billion, a P/E ratio of -176.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a 50-day moving average of $271.21 and a two-hundred day moving average of $237.32.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TEAM. Morgan Stanley boosted their price objective on shares of Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. BMO Capital Markets raised shares of Atlassian from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. JMP Securities restated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, KeyCorp increased their price objective on Atlassian from $315.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $316.77.

Atlassian 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.