Empowered Funds LLC Sells 27,597 Shares of Atlassian Co. (NASDAQ:TEAM)

Empowered Funds LLC trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 92.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,408 shares of the technology company’s stock after selling 27,597 shares during the period. Empowered Funds LLC’s holdings in Atlassian were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Asset Dedication LLC lifted its stake in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont grew its position in 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 acquiring an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in Atlassian in the second quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. Finally, Reston Wealth Management LLC bought a new position in shares of Atlassian during the third quarter valued at $48,000. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Up 0.2 %

NASDAQ:TEAM opened at $261.00 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $269.40. The stock’s fifty day simple moving average is $196.47 and its 200-day simple moving average is $176.97. The firm has a market capitalization of $67.97 billion, a P/E ratio of -176.14 and a beta of 0.71.

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

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,746 shares of company stock valued at $47,702,864 in the last 90 days. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent analyst reports. Scotiabank increased their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Mizuho raised their price target on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a 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 research report on Monday, August 5th. Finally, JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $244.21.

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.