Cibc World Markets Corp Sells 1,969 Shares of Atlassian Co. (NASDAQ:TEAM)

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

Several other institutional investors also recently modified their holdings of TEAM. Point72 Asset Management L.P. grew its stake 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 worth $110,972,000 after purchasing an additional 617,566 shares during the last quarter. Two Sigma Advisers LP boosted its position in Atlassian by 122.0% during 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 last quarter. Westfield Capital Management Co. LP acquired a new stake in Atlassian during the 3rd quarter worth about $57,149,000. Los Angeles Capital Management LLC raised its position in shares of Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after acquiring an additional 226,246 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new position in shares of Atlassian in the 4th quarter valued at about $47,469,000. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00. Following the completion of the sale, the chief executive officer now owns 31,792 shares in the company, valued at approximately $8,114,908. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now owns 210,471 shares of the company’s stock, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,085 shares of company stock worth $69,211,537 over the last quarter. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $226.16 on Friday. The firm has a 50-day moving average of $271.54 and a 200-day moving average of $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. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Scotiabank increased their target price on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $316.77.

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.