Northwestern Mutual Wealth Management Co. Sells 190 Shares of Atlassian Co. (NASDAQ:TEAM)

Northwestern Mutual Wealth Management Co. trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,245 shares of the technology company’s stock after selling 190 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Atlassian were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. First Trust Direct Indexing L.P. grew its holdings in Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the period. Park National Corp OH raised its stake in Atlassian by 4.0% in the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after acquiring an additional 58 shares during the period. Financial Advocates Investment Management lifted its holdings in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Atlassian by 6.8% during the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

TEAM opened at $171.00 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $44.51 billion, a P/E ratio of -271.43 and a beta of 0.73. The stock has a 50-day moving average price of $159.07 and a 200-day moving average price of $172.47. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (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%. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Equities analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $182.56, for a total value of $1,450,986.88. Following the completion of the sale, the chief executive officer now directly owns 468,932 shares of the company’s stock, valued at $85,608,225.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the sale, the president now directly owns 152,534 shares in the company, valued at approximately $26,693,450. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $182.56, for a total value of $1,450,986.88. Following the transaction, the chief executive officer now owns 468,932 shares in the company, valued at approximately $85,608,225.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,211 shares of company stock valued at $38,316,260. Insiders own 40.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TEAM shares. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Wells Fargo & Company cut their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $216.65.

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.