Atlassian Co. (NASDAQ:TEAM) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its position in Atlassian Co. (NASDAQ:TEAM) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,335 shares of the technology company’s stock after selling 190 shares during the period. Vontobel Holding Ltd.’s holdings in Atlassian were worth $847,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Diversified Trust Co grew its stake in Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after buying an additional 3,035 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Atlassian by 7.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after acquiring an additional 10,434 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after acquiring an additional 3,687 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Atlassian in the 2nd quarter worth about $12,846,000. Finally, Burney Co. bought a new position in Atlassian in the 1st quarter valued at about $1,095,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $191.70 on Monday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. 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 stock has a fifty day moving average of $164.91 and a 200-day moving average of $171.56.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, research analysts forecast that Atlassian Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group raised their price objective on shares of Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Raymond James raised shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Tuesday, October 1st. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Finally, Truist Financial lowered their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $215.12.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 5,172 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the completion of the transaction, the chief technology officer now owns 204,109 shares in the company, valued at $38,780,710. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the company’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 completion of the transaction, the chief executive officer now owns 294,076 shares of the company’s stock, valued at $41,329,441.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,477 shares of company stock valued at $36,659,811 over the last ninety days. 40.48% of the stock is owned by company insiders.

About Atlassian

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.