Atlassian Co. (NASDAQ:TEAM) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its position in shares of Atlassian Co. (NASDAQ:TEAM) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,317 shares of the technology company’s stock after selling 95 shares during the quarter. Bleakley Financial Group LLC’s holdings in Atlassian were worth $368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the second quarter valued at about $36,000. Finally, GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEAM. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Scotiabank cut their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group upped their price target on shares of Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a report on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.47.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $192.18, for a total transaction of $1,527,446.64. Following the completion of the transaction, the chief executive officer now owns 389,452 shares in the company, valued at approximately $74,844,885.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. 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 available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64. Following the completion of the sale, the chief executive officer now directly owns 389,452 shares of the company’s stock, valued at $74,844,885.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,185 shares of company stock worth $38,511,079. Insiders own 40.48% of the company’s stock.

Atlassian Stock Up 0.5 %

TEAM stock opened at $193.87 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a fifty day moving average price of $166.97 and a two-hundred day moving average price of $171.54. The firm has a market cap of $50.41 billion, a price-to-earnings ratio of -167.13 and a beta of 0.73.

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 net margin of 6.89% and a negative return on equity of 17.69%. The company’s quarterly revenue 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. Research analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

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.