Atria Investments Inc Lowers Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Atria Investments Inc lowered its position in shares of Atlassian Co. (NASDAQ:TEAM) by 65.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,736 shares of the technology company’s stock after selling 8,803 shares during the period. Atria Investments Inc’s holdings in Atlassian were worth $752,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian during the 2nd quarter valued at $469,803,000. Price T Rowe Associates Inc. MD grew its position in Atlassian by 8.8% during the first 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 buying an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Atlassian in the 2nd quarter worth about $91,072,000. Quadrature Capital Ltd purchased a new stake in shares of Atlassian in the 1st quarter valued at about $55,307,000. Finally, Swedbank AB bought a new stake in shares of Atlassian during the 1st quarter valued at about $50,923,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TEAM shares. Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial raised their price target on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. 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. Robert W. Baird raised their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group upped their target price on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the completion of the transaction, the chief executive officer now directly owns 214,596 shares of the company’s stock, valued at $33,674,404.32. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,248 shares of company stock worth $45,553,294 in the last three months. 38.55% of the stock is owned by corporate insiders.

Atlassian Price Performance

TEAM stock opened at $238.69 on Tuesday. The company has a debt-to-equity ratio of 0.96, 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 50-day moving average of $187.95 and a 200 day moving average of $174.61. The company has a market cap of $62.16 billion, a P/E ratio of -158.64 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned ($0.07) EPS. The business’s revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts forecast that Atlassian Co. will post -0.56 EPS for the current 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.