Atlassian Co. (NASDAQ:TEAM) Holdings Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in Atlassian Co. (NASDAQ:TEAM) by 37.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,925 shares of the technology company’s stock after acquiring an additional 520 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Atlassian were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TEAM. Founders Financial Securities LLC grew its stake in Atlassian by 14.3% during the 1st quarter. Founders Financial Securities LLC now owns 2,099 shares of the technology company’s stock worth $410,000 after buying an additional 263 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Atlassian in the first quarter worth $254,000. Allspring Global Investments Holdings LLC grew its stake in shares of Atlassian by 123.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock worth $12,069,000 after purchasing an additional 34,204 shares in the last quarter. Valley National Advisers Inc. grew its stake in shares of Atlassian by 54.7% in the first quarter. Valley National Advisers Inc. now owns 896 shares of the technology company’s stock worth $174,000 after purchasing an additional 317 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Atlassian in the first quarter worth $1,197,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Down 0.0 %

NASDAQ:TEAM opened at $188.66 on Tuesday. The firm has a market capitalization of $49.11 billion, a price-to-earnings ratio of -299.46 and a beta of 0.73. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. 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 business’s fifty day moving average price is $169.41 and its 200 day moving average price is $171.27.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion for 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 quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) earnings per share. On average, sell-side analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Canaccord Genuity Group upped their price objective on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets cut their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Barclays cut their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.47.

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $41,329,441.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction dated 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 owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock valued at $38,683,550 in the last three months. 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.