Blair William & Co. IL Sells 11,296 Shares of Atlassian Co. (NASDAQ:TEAM)

Blair William & Co. IL lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 15.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,490 shares of the technology company’s stock after selling 11,296 shares during the quarter. Blair William & Co. IL’s holdings in Atlassian were worth $11,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Asset Dedication LLC grew its position in Atlassian by 229.8% during 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 during the period. Hollencrest Capital Management grew its position in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Trust Co. of Vermont increased its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian in the 2nd quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Atlassian in the first quarter valued at approximately $40,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $170.45, for a total value of $1,354,736.60. Following the transaction, the chief executive officer now owns 15,896 shares of the company’s stock, valued at $2,709,473.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $170.45, for a total transaction of $1,354,736.60. Following the transaction, the chief executive officer now directly owns 15,896 shares in the company, valued at $2,709,473.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at $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 worth $38,889,654. 40.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TEAM. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Barclays dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. 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 research report on Thursday, July 11th. Finally, StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $163.10 on Friday. The stock’s 50-day simple moving average is $162.35 and its two-hundred day simple moving average is $175.85. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm has a market capitalization of $42.41 billion, a P/E ratio of -258.89 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

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

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.