CIBC Asset Management Inc Has $4.66 Million Stock Position in Atlassian Co. Plc (NASDAQ:TEAM)

CIBC Asset Management Inc boosted its position in shares of Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,865 shares of the technology company’s stock after purchasing an additional 776 shares during the period. CIBC Asset Management Inc’s holdings in Atlassian were worth $4,662,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Nvwm LLC boosted its position in Atlassian by 142.9% during the fourth quarter. Nvwm LLC now owns 85 shares of the technology company’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Bank of New Hampshire acquired a new stake in Atlassian during the first quarter valued at $26,000. CWM LLC acquired a new stake in Atlassian during the fourth quarter valued at $35,000. Addison Advisors LLC boosted its position in Atlassian by 2,475.0% during the first quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in Atlassian during the first quarter valued at $30,000. Institutional investors and hedge funds own 91.33% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on Atlassian in a report on Tuesday, July 19th. They set an “outperform” rating and a $257.00 target price on the stock. Wells Fargo & Company cut their target price on Atlassian from $400.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, May 18th. KeyCorp cut their target price on Atlassian from $338.00 to $278.00 and set an “overweight” rating on the stock in a report on Friday, July 22nd. Robert W. Baird cut their target price on Atlassian from $520.00 to $380.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Mizuho cut their target price on Atlassian from $500.00 to $360.00 in a report on Monday, May 16th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $338.16.

Atlassian Stock Up 16.6 %

TEAM stock opened at $268.59 on Friday. Atlassian Co. Plc has a twelve month low of $159.54 and a twelve month high of $483.13. The company has a market cap of $36.88 billion, a PE ratio of -93.59 and a beta of 1.01. The business’s 50-day simple moving average is $196.85 and its 200 day simple moving average is $242.29. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 3.30.

Atlassian (NASDAQ:TEAMGet Rating) last released its earnings results on Thursday, August 4th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Atlassian had a negative return on equity of 56.13% and a negative net margin of 27.73%. The business had revenue of $759.80 million for the quarter, compared to the consensus estimate of $724.28 million. During the same period last year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. Plc will post -0.36 earnings per share for the current year.

Atlassian Profile

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Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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