Mount Yale Investment Advisors LLC Reduces Holdings in Atlassian Co. (NASDAQ:TEAM)

Mount Yale Investment Advisors LLC decreased its position in Atlassian Co. (NASDAQ:TEAM) by 25.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,563 shares of the technology company’s stock after selling 4,307 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Atlassian were worth $2,222,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after purchasing an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Capital International Investors boosted its position in shares of Atlassian by 6.3% during the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares during the period. Clearbridge Investments LLC boosted its position in shares of Atlassian by 6.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after purchasing an additional 130,253 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Atlassian by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,576,176 shares of the technology company’s stock worth $374,909,000 after purchasing an additional 32,174 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of 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 research report on Friday, August 2nd. Robert W. Baird lowered shares of Atlassian from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Morgan Stanley reduced their target price 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. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. Finally, Barclays reduced their target price 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. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $163.08 on Friday. The company’s fifty day moving average price is $161.99 and its 200 day moving average price is $175.39. Atlassian Co. has a 12 month low of $135.29 and a 12 month 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 firm has a market capitalization of $42.45 billion, a P/E ratio of -258.86 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced 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. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business earned ($0.21) EPS. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,709,473.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the transaction, the president now directly owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 15,896 shares in the company, valued at approximately $2,709,473.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 239,399 shares of company stock valued at $40,189,629. Insiders own 40.48% of the company’s stock.

Atlassian 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.