Cibc World Markets Corp Trims Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Cibc World Markets Corp decreased its holdings in Atlassian Co. (NASDAQ:TEAM) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,819 shares of the technology company’s stock after selling 1,969 shares during the period. Cibc World Markets Corp’s holdings in Atlassian were worth $2,633,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TEAM. Point72 Asset Management L.P. boosted its position in shares of Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP boosted its position in shares of Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Atlassian in the third quarter valued at approximately $57,149,000. Los Angeles Capital Management LLC boosted its position in shares of Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after acquiring an additional 226,246 shares during the period. Finally, Fisher Funds Management LTD bought a new stake in Atlassian during the fourth quarter valued at approximately $47,469,000. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the sale, the chief executive officer now owns 71,532 shares in the company, valued at approximately $15,515,290.80. The trade was a 10.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,085 shares of company stock valued at $69,211,537. 38.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research analyst reports. KeyCorp lifted their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Mizuho lifted their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Stephens initiated coverage on shares of Atlassian in a research report on Wednesday. They set an “equal weight” rating and a $255.00 target price for the company. Finally, Jefferies Financial Group lifted their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Stock Down 1.6 %

Shares of Atlassian stock opened at $226.16 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $271.54 and its two-hundred day simple moving average is $235.36. The company has a market cap of $59.25 billion, a P/E ratio of -168.77 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

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.