139,409 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 139,409 shares of the technology company's stock, valued at approximately $22,140,000. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Atlassian at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TEAM. Asset Dedication LLC boosted its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock worth $27,000 after buying an additional 108 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian in the 2nd quarter worth $36,000. GAMMA Investing LLC raised its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after purchasing an additional 96 shares during the period. Finally, Crewe Advisors LLC purchased a new position in Atlassian during the first quarter valued at $43,000. Hedge funds and other institutional investors own 93.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TEAM shares. Jefferies Financial Group raised their price objective on Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Raymond James lifted their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Barclays decreased their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. Oppenheimer upped their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Mizuho raised their price target on Atlassian from $200.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $244.21.

Atlassian Price Performance

NASDAQ:TEAM traded up $3.85 during trading hours on Thursday, hitting $249.30. 308,577 shares of the stock were exchanged, compared to its average volume of 1,861,458. The firm's fifty day moving average price is $192.77 and its 200 day moving average price is $175.94. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a market cap of $64.93 billion, a P/E ratio of -161.48 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted ($0.07) EPS. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts anticipate that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares of the company's stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28. Following the sale, the chief executive officer now owns 158,960 shares of the company's stock, valued at approximately $26,444,585.60. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,746 shares of company stock worth $47,067,024. Insiders own 38.55% of the company's stock.

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.