Atlassian Co. (NASDAQ:TEAM) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in Atlassian Co. (NASDAQ:TEAM) by 68.8% during the 3rd quarter, Holdings Channel reports. The firm owned 84,262 shares of the technology company’s stock after selling 185,755 shares during the quarter. Bank of Montreal Can’s holdings in Atlassian were worth $13,585,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Financial Advocates Investment Management grew its stake in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after acquiring an additional 62 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Commerce Bank raised its position in shares of Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $263.58 on Friday. The firm has a fifty day moving average of $206.56 and a 200-day moving average of $179.82. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $269.40. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $68.64 billion, a P/E ratio of -173.41 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. As a group, analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04. Following the completion of the transaction, the chief executive officer now owns 174,856 shares in the company, valued at approximately $45,765,060.88. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,694 shares of company stock valued at $50,560,726. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group boosted their target price on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer upped their price objective on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Raymond James lifted their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

About Atlassian

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.