Atlassian Co. (NASDAQ:TEAM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in Atlassian Co. (NASDAQ:TEAM) by 23.9% during the first quarter, Holdings Channel reports. The fund owned 32,400 shares of the technology company’s stock after selling 10,180 shares during the quarter. State of Alaska Department of Revenue’s holdings in Atlassian were worth $6,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 504,181 shares during the period. Price T Rowe Associates Inc. MD increased its position in Atlassian by 3.3% in the 4th 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 acquiring an additional 326,673 shares during the period. WCM Investment Management LLC increased its position in Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares during the period. Baillie Gifford & Co. raised its stake in Atlassian by 20.7% during 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 acquiring an additional 1,511,318 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Atlassian by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after acquiring an additional 255,653 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Down 0.0 %

Atlassian stock opened at $182.26 on Thursday. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69. The firm’s 50 day simple moving average is $171.25 and its 200-day simple moving average is $200.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company posted ($0.40) EPS. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. Analysts anticipate that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $196.25, for a total value of $1,617,296.25. Following the completion of the sale, the chief executive officer now directly owns 473,583 shares of the company’s stock, valued at approximately $92,940,663.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.25, for a total value of $1,617,296.25. Following the transaction, the chief executive officer now owns 473,583 shares in the company, valued at approximately $92,940,663.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, June 10th. The shares were sold at an average price of $162.20, for a total transaction of $1,289,165.60. Following the sale, the chief executive officer now directly owns 103,324 shares of the company’s stock, valued at approximately $16,759,152.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 287,802 shares of company stock worth $51,411,378. 40.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TEAM has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $200.00 to $225.00 in a research report on Tuesday. TD Cowen decreased their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Mizuho dropped their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Wells Fargo & Company cut their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $226.94.

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.