Los Angeles Capital Management LLC Sells 123,760 Shares of Atlassian Co. (NASDAQ:TEAM)

Los Angeles Capital Management LLC reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 81.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,261 shares of the technology company’s stock after selling 123,760 shares during the period. Los Angeles Capital Management LLC’s holdings in Atlassian were worth $5,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Atlassian by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after buying an additional 326,673 shares in the last quarter. WCM Investment Management LLC grew its position in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after acquiring an additional 249,017 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Atlassian by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after purchasing an additional 255,653 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $193.63, for a total value of $147,158.80. Following the completion of the transaction, the president now owns 162,610 shares in the company, valued at approximately $31,486,174.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $193.63, for a total transaction of $147,158.80. Following the completion of the transaction, the president now directly owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the completion of the sale, the chief executive officer now directly owns 432,378 shares in the company, valued at approximately $89,657,902.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,318 shares of company stock worth $49,526,292. 40.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TEAM shares. Citigroup decreased their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Piper Sandler cut their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. KeyCorp started coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Finally, Mizuho cut their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Atlassian Trading Up 2.8 %

Shares of TEAM stock opened at $157.52 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average of $175.39 and a 200-day moving average of $202.48. Atlassian Co. has a one year low of $152.34 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted ($0.40) EPS. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, equities research analysts anticipate that Atlassian Co. will post -0.21 earnings per share 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.