Bank of Montreal Can Purchases 203,835 Shares of Atlassian Co. (NASDAQ:TEAM)

Bank of Montreal Can grew its position in Atlassian Co. (NASDAQ:TEAM) by 308.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,017 shares of the technology company’s stock after purchasing an additional 203,835 shares during the quarter. Bank of Montreal Can’s holdings in Atlassian were worth $47,979,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Asset Dedication LLC grew its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Trust Co. of Vermont grew its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Atlassian in the second quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Atlassian during the first quarter worth about $40,000. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $161.90 on Thursday. The firm’s fifty day moving average price is $160.87 and its two-hundred day moving average price is $174.53. The stock has a market cap of $42.10 billion, a PE ratio of -256.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. On average, equities analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the sale, the president now directly owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the transaction, the president now directly owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $182.56, for a total value of $1,450,986.88. Following the completion of the sale, the chief executive officer now owns 468,932 shares in the company, valued at approximately $85,608,225.92. The disclosure for this sale can be found here. Insiders sold 232,211 shares of company stock valued at $38,945,503 over the last quarter. 40.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

TEAM has been the topic of a number of analyst reports. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research report on Thursday, July 11th. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $175.00 in a report on Friday, August 2nd. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and upped their target price for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Wells Fargo & Company decreased their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a research report on Monday. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

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.