Healthcare of Ontario Pension Plan Trust Fund Lowers Stake in Atlassian Corporation PLC $TEAM

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 13.6% during the first quarter, HoldingsChannel reports. The firm owned 44,482 shares of the technology company’s stock after selling 6,979 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Atlassian were worth $3,036,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TEAM. Snowden Capital Advisors LLC lifted its position in Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after acquiring an additional 71 shares during the period. Financial Perspectives Inc increased its holdings in shares of Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after purchasing an additional 75 shares during the period. Slow Capital Inc. increased its holdings in shares of Atlassian by 0.3% in the fourth quarter. Slow Capital Inc. now owns 33,486 shares of the technology company’s stock valued at $5,429,000 after purchasing an additional 84 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Atlassian by 3.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 3,079 shares of the technology company’s stock worth $499,000 after purchasing an additional 89 shares during the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of Atlassian by 76.4% during the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In related news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the transaction, the executive owned 227,691 shares in the company, valued at $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,041 shares of company stock valued at $1,801,069 in the last quarter. Company insiders own 36.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TEAM. Bank of America lowered their price objective on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Raymond James Financial restated an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. BTIG Research reaffirmed a “buy” rating and issued a $130.00 target price on shares of Atlassian in a report on Friday, July 10th. Canaccord Genuity Group dropped their price target on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. Twenty-one investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.50.

Atlassian Price Performance

Atlassian stock opened at $98.12 on Friday. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $199.09. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The business has a fifty day moving average of $90.18 and a two-hundred day moving average of $87.36. The company has a market cap of $24.90 billion, a P/E ratio of -118.22, a price-to-earnings-growth ratio of 8.28 and a beta of 1.11.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. As a group, analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.