Ensign Peak Advisors Inc Sells 189,533 Shares of Atlassian Co. (NASDAQ:TEAM)

Ensign Peak Advisors Inc cut its stake in Atlassian Co. (NASDAQ:TEAM) by 57.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,228 shares of the technology company’s stock after selling 189,533 shares during the quarter. Ensign Peak Advisors Inc owned 0.05% of Atlassian worth $24,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans purchased a new position in shares of Atlassian in the second quarter worth approximately $677,000. Pacer Advisors Inc. lifted its holdings in Atlassian by 7.9% during the second quarter. Pacer Advisors Inc. now owns 12,079 shares of the technology company’s stock valued at $2,137,000 after purchasing an additional 881 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Atlassian by 19.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 54,131 shares of the technology company’s stock valued at $9,581,000 after purchasing an additional 8,809 shares in the last quarter. AE Wealth Management LLC lifted its holdings in Atlassian by 1.4% during the second quarter. AE Wealth Management LLC now owns 12,738 shares of the technology company’s stock valued at $2,253,000 after purchasing an additional 174 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Atlassian by 40.9% during the second quarter. Canada Pension Plan Investment Board now owns 222,878 shares of the technology company’s stock valued at $39,423,000 after purchasing an additional 64,698 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, June 28th. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, June 28th. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian 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 sale, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 231,451 shares of company stock valued at $38,886,554. 40.48% of the stock is owned by company insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $163.08 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $42.45 billion, a price-to-earnings ratio of -258.86 and a beta of 0.73. The company has a 50 day moving average price of $161.99 and a 200-day moving average price of $175.23. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Truist Financial decreased their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company reduced their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

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.