Atria Wealth Solutions Inc. trimmed its position in Atlassian Co. (NASDAQ:TEAM – Free Report) by 41.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,131 shares of the technology company’s stock after selling 1,514 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Atlassian were worth $274,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of TEAM. Franklin Resources Inc. purchased a new position in shares of Atlassian in the 4th quarter worth about $324,141,000. Brown Advisory Inc. raised its holdings in shares of Atlassian by 980.1% in the 4th quarter. Brown Advisory Inc. now owns 2,424,085 shares of the technology company’s stock worth $311,931,000 after purchasing an additional 2,199,645 shares during the period. BlackRock Inc. raised its holdings in shares of Atlassian by 26.0% in the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after purchasing an additional 1,561,804 shares during the period. Durable Capital Partners LP purchased a new position in shares of Atlassian in the 1st quarter worth about $434,144,000. Finally, Geode Capital Management LLC raised its holdings in shares of Atlassian by 553.1% in the 4th quarter. Geode Capital Management LLC now owns 1,539,256 shares of the technology company’s stock worth $198,071,000 after purchasing an additional 1,303,576 shares during the period. 53.36% of the stock is currently owned by hedge funds and other institutional investors.
Atlassian Price Performance
Shares of TEAM opened at $204.88 on Tuesday. The firm has a market cap of $52.73 billion, a price-to-earnings ratio of -108.40 and a beta of 0.70. The stock has a 50 day moving average of $190.80 and a 200-day moving average of $171.64. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.47. Atlassian Co. has a 52 week low of $113.86 and a 52 week high of $246.15.
Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Thursday, August 3rd. The technology company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.04. The company had revenue of $939.10 million during the quarter, compared to analyst estimates of $911.23 million. Atlassian had a negative return on equity of 61.15% and a negative net margin of 13.77%. As a group, analysts forecast that Atlassian Co. will post -0.48 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on TEAM shares. Citigroup raised their price objective on Atlassian from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, August 29th. Wells Fargo & Company raised their target price on Atlassian from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 4th. KeyCorp raised their target price on Atlassian from $175.00 to $205.00 in a report on Tuesday, July 18th. Barclays raised their target price on Atlassian from $165.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, Oppenheimer raised their target price on Atlassian from $200.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $199.81.
Insider Transactions at Atlassian
In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $161.08, for a total transaction of $1,327,460.28. Following the completion of the transaction, the chief executive officer now owns 32,964 shares in the company, valued at approximately $5,309,841.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, Director Enrique T. Salem sold 10,000 shares of Atlassian stock in a transaction on Monday, July 10th. The stock was sold at an average price of $168.13, for a total transaction of $1,681,300.00. Following the sale, the director now owns 104,162 shares of the company’s stock, valued at approximately $17,512,757.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Monday, June 26th. The shares were sold at an average price of $161.08, for a total value of $1,327,460.28. Following the sale, the chief executive officer now directly owns 32,964 shares in the company, valued at approximately $5,309,841.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 338,428 shares of company stock worth $62,896,995. 43.11% of the stock is currently owned by corporate insiders.
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.
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