CIBC Asset Management Inc Acquires 776 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

CIBC Asset Management Inc raised its holdings in shares of Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,865 shares of the technology company’s stock after acquiring an additional 776 shares during the period. CIBC Asset Management Inc’s holdings in Atlassian were worth $4,662,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Bank of New Hampshire bought a new stake in shares of Atlassian during the 1st quarter valued at $26,000. Addison Advisors LLC increased its position in shares of Atlassian by 2,475.0% in the 1st quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock valued at $30,000 after buying an additional 99 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Atlassian in the 1st quarter valued at $30,000. Nvwm LLC increased its position in shares of Atlassian by 142.9% in the 4th quarter. Nvwm LLC now owns 85 shares of the technology company’s stock valued at $32,000 after buying an additional 50 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Atlassian in the 1st quarter valued at $32,000. Institutional investors own 91.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TEAM. Cowen lowered their price objective on shares of Atlassian from $285.00 to $245.00 in a research report on Friday, July 22nd. Truist Financial upped their price objective on shares of Atlassian from $220.00 to $250.00 and gave the company a “hold” rating in a research report on Friday. Cowen lowered their price objective on shares of Atlassian from $285.00 to $245.00 in a research report on Friday, July 22nd. Mizuho lowered their price objective on shares of Atlassian from $500.00 to $360.00 in a research report on Monday, May 16th. Finally, KeyCorp lowered their price objective on shares of Atlassian from $338.00 to $278.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $338.16.

Atlassian Stock Up 16.6 %

NASDAQ:TEAM opened at $268.59 on Friday. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of -93.59 and a beta of 1.01. Atlassian Co. Plc has a twelve month low of $159.54 and a twelve month high of $483.13. The stock’s 50 day moving average price is $196.85 and its two-hundred day moving average price is $242.29. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 3.30.

Atlassian (NASDAQ:TEAMGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $759.80 million for the quarter, compared to analyst estimates of $724.28 million. Atlassian had a negative return on equity of 56.13% and a negative net margin of 27.73%. The business’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. Equities research analysts expect that Atlassian Co. Plc will post -0.36 earnings per share for the current fiscal year.

Atlassian Company Profile

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Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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