Atlassian Co. (NASDAQ:TEAM) Holdings Decreased by Parallel Advisors LLC

Parallel Advisors LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 17.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,037 shares of the technology company’s stock after selling 416 shares during the period. Parallel Advisors LLC’s holdings in Atlassian were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in Atlassian during the second quarter valued at $444,000. Meeder Advisory Services Inc. boosted its position in Atlassian by 23.5% during the second quarter. Meeder Advisory Services Inc. now owns 1,616 shares of the technology company’s stock valued at $286,000 after purchasing an additional 307 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Atlassian by 42.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 37,788 shares of the technology company’s stock valued at $6,666,000 after purchasing an additional 11,176 shares during the last quarter. BOKF NA boosted its position in Atlassian by 17.9% during the second quarter. BOKF NA now owns 8,305 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 1,258 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its position in Atlassian by 22.6% during the second quarter. Cornercap Investment Counsel Inc. now owns 11,120 shares of the technology company’s stock valued at $1,967,000 after purchasing an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at approximately $41,329,441.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the sale, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $41,329,441.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,159 shares of company stock valued at $40,255,831. Corporate insiders own 40.48% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research report on Thursday, July 11th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. Finally, Truist Financial reduced their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $217.69.

Atlassian Price Performance

Shares of TEAM stock opened at $155.82 on Wednesday. The stock has a 50 day moving average of $162.94 and a two-hundred day moving average of $176.05. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a market capitalization of $40.56 billion, a P/E ratio of -247.33 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned ($0.21) EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities analysts expect that Atlassian Co. will post -0.58 EPS 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.