Ontario Teachers Pension Plan Board Takes $106.46 Million Position in Atlassian Corporation PLC $TEAM

Ontario Teachers Pension Plan Board bought a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 666,629 shares of the technology company’s stock, valued at approximately $106,461,000. Atlassian accounts for approximately 2.2% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 12th largest holding. Ontario Teachers Pension Plan Board owned about 0.25% of Atlassian at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. lifted its holdings in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the period. Snowden Capital Advisors LLC raised 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 purchasing an additional 71 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Atlassian by 0.3% during the 2nd quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock worth $5,038,000 after buying an additional 79 shares during the period. ABN Amro Investment Solutions grew its position in shares of Atlassian by 3.4% in the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after buying an additional 80 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC raised its position in shares of Atlassian by 6.6% during the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,307 shares of the technology company’s stock worth $209,000 after acquiring an additional 81 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

NASDAQ TEAM opened at $83.61 on Thursday. The company has a market cap of $22.05 billion, a P/E ratio of -116.12, a PEG ratio of 68.57 and a beta of 0.88. The company has a fifty day simple moving average of $133.10 and a 200 day simple moving average of $151.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian Corporation PLC has a 12-month low of $80.40 and a 12-month high of $315.03.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. Sell-side analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $160.48, for a total transaction of $1,230,079.20. Following the completion of the transaction, the director owned 130,305 shares in the company, valued at approximately $20,911,346.40. The trade was a 5.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20. Following the sale, the chief executive officer directly owned 137,970 shares of the company’s stock, valued at $21,396,387.60. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 475,758 shares of company stock worth $68,994,874. 36.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $260.00 price target on shares of Atlassian in a research report on Friday, October 31st. KeyCorp decreased their price target on Atlassian from $210.00 to $170.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Morgan Stanley dropped their price objective on Atlassian from $320.00 to $290.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Sanford C. Bernstein raised their target price on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Finally, Macquarie Infrastructure lowered their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.32.

Atlassian Company 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.