Alberta Investment Management Corp Buys New Shares in Atlassian Corporation PLC $TEAM

Alberta Investment Management Corp purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 365,400 shares of the technology company’s stock, valued at approximately $59,246,000. Alberta Investment Management Corp owned approximately 0.14% of Atlassian at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEAM. DNB Asset Management AS increased its stake in Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after purchasing an additional 2,041,210 shares in the last quarter. Norges Bank bought a new stake in Atlassian during the 4th quarter valued at $323,526,000. Morgan Stanley increased its stake in Atlassian by 52.4% during the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Carmignac Gestion increased its stake in Atlassian by 6,602.0% during the 4th quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock valued at $195,601,000 after purchasing an additional 1,188,368 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Atlassian by 38.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company’s stock valued at $640,628,000 after purchasing an additional 1,090,787 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $295.00 price target on shares of Atlassian in a research note on Friday, May 1st. Canaccord Genuity Group decreased their price target on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Oppenheimer boosted their price target on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. BTIG Research boosted their price target on shares of Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Wolfe Research restated an “outperform” rating and set a $100.00 price target on shares of Atlassian in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Insider Activity

In related news, CFO James Chuong sold 8,838 shares of the 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 completion of the transaction, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock in a transaction dated Friday, June 12th. The shares were 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 of the company’s stock, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is owned by company insiders.

Atlassian Price Performance

TEAM opened at $91.55 on Tuesday. The firm has a market cap of $23.23 billion, a P/E ratio of -110.30, a PEG ratio of 5.02 and a beta of 1.07. The firm has a 50-day moving average of $81.92 and a 200 day moving average of $103.87. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59.

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, beating the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, research analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current 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.