Atlassian Co. (NASDAQ:TEAM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in Atlassian Co. (NASDAQ:TEAM) by 81.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,261 shares of the technology company’s stock after selling 123,760 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Atlassian were worth $5,319,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TEAM. Arkadios Wealth Advisors purchased a new stake in Atlassian during the fourth quarter valued at about $202,000. Vanguard Group Inc. lifted its position in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after acquiring an additional 504,181 shares in the last quarter. American Century Companies Inc. boosted its stake in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the period. International Assets Investment Management LLC purchased a new position in Atlassian during the 4th quarter worth approximately $13,805,000. Finally, Royal Bank of Canada raised its stake in Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the period. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $193.63, for a total value of $147,158.80. Following the sale, the president now owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Gene Liu sold 199 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total value of $36,665.75. Following the completion of the sale, the chief accounting officer now owns 45,666 shares in the company, valued at $8,413,960.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $193.63, for a total value of $147,158.80. Following the transaction, the president now owns 162,610 shares in the company, valued at $31,486,174.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,318 shares of company stock valued at $49,526,292. Insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TEAM shares. KeyCorp started coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Canaccord Genuity Group lowered their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. TD Cowen lowered their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Finally, Piper Sandler cut their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Atlassian Stock Performance

Shares of TEAM stock opened at $157.52 on Friday. Atlassian Co. has a 12 month low of $152.34 and a 12 month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $175.39 and its two-hundred day moving average is $202.48.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. Atlassian’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS. Sell-side analysts predict that Atlassian Co. will post -0.21 earnings per share 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.