SYSTM Wealth Solutions LLC Lowers Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

SYSTM Wealth Solutions LLC cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 80.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 922 shares of the technology company’s stock after selling 3,749 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Atlassian were worth $163,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. L & S Advisors Inc increased its holdings in Atlassian by 24.8% in the 2nd quarter. L & S Advisors Inc now owns 9,518 shares of the technology company’s stock worth $1,684,000 after acquiring an additional 1,889 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Atlassian by 53.6% during the second quarter. Edgestream Partners L.P. now owns 22,317 shares of the technology company’s stock worth $3,947,000 after purchasing an additional 7,787 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Atlassian by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after purchasing an additional 5,878 shares during the last quarter. Angeles Investment Advisors LLC lifted its stake in Atlassian by 19.9% in the 2nd quarter. Angeles Investment Advisors LLC now owns 3,164 shares of the technology company’s stock valued at $560,000 after buying an additional 526 shares in the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new stake in Atlassian during the 2nd quarter worth approximately $140,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of TEAM stock opened at $159.84 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $41.56 billion, a P/E ratio of -253.71 and a beta of 0.73. The firm’s 50 day moving average price is $162.64 and its 200-day moving average price is $175.93. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

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

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research analyst reports. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. Scotiabank dropped their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $217.69.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.03, for a total transaction of $1,311,658.44. Following the sale, the chief executive officer now owns 79,480 shares of the company’s stock, valued at $13,116,584.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44. Following the sale, the chief executive officer now owns 79,480 shares of the company’s stock, valued at $13,116,584.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred 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 transaction, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. Insiders have sold a total of 232,211 shares of company stock worth $39,011,254 in the last ninety days. 40.48% of the stock is owned by corporate insiders.

Atlassian Company 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.