National Bank of Canada FI Decreases Holdings in Atlassian Co. (NASDAQ:TEAM)

National Bank of Canada FI reduced its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 835 shares of the technology company’s stock after selling 321 shares during the quarter. National Bank of Canada FI’s holdings in Atlassian were worth $133,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Atlassian in the 3rd quarter valued at $1,588,000. Impax Asset Management Group plc raised its stake in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 shares in the last quarter. Parnassus Investments LLC lifted its position in Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Atlassian in the third quarter valued at $97,350,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $278.09 on Tuesday. The company has a market cap of $72.42 billion, a P/E ratio of -183.64 and a beta of 0.80. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The business has a fifty day moving average of $229.09 and a two-hundred day moving average of $186.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. KeyCorp lifted their target price on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Canaccord Genuity Group increased their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Raymond James lifted their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group increased their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $256.50.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 268,642 shares of company stock valued at $56,973,091 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Profile

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.