Healthcare of Ontario Pension Plan Trust Fund Sells 43,191 Shares of Atlassian Co. (NASDAQ:TEAM)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 59.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,432 shares of the technology company’s stock after selling 43,191 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Atlassian were worth $4,674,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dragoneer Investment Group LLC bought a new stake in Atlassian in the second quarter valued at $469,803,000. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at about $91,072,000. Westfield Capital Management Co. LP bought a new stake in shares of Atlassian during the 3rd quarter valued at about $57,149,000. Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after buying an additional 245,286 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Atlassian by 657.5% in the second quarter. Assenagon Asset Management S.A. now owns 239,509 shares of the technology company’s stock worth $42,364,000 after buying an additional 207,891 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 0.4 %

TEAM stock opened at $263.58 on Friday. The company has a market cap of $68.64 billion, a price-to-earnings ratio of -173.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day moving average is $206.56 and its two-hundred day moving average is $179.85. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40.

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

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the transaction, the director now directly owns 151,012 shares in the company, valued at approximately $24,737,275.72. The trade was a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 165 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock worth $50,560,726 in the last 90 days. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several recent research reports. Raymond James raised their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Piper Sandler raised their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley boosted their target price on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group raised their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.