Asset Dedication LLC Purchases 108 Shares of Atlassian Co. (NASDAQ:TEAM)

Asset Dedication LLC boosted its position in Atlassian Co. (NASDAQ:TEAM) by 229.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 155 shares of the technology company’s stock after acquiring an additional 108 shares during the period. Asset Dedication LLC’s holdings in Atlassian were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted its holdings in shares of Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares in the last quarter. Park National Corp OH lifted its stake in shares of Atlassian by 4.0% in the first quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after buying an additional 58 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after buying an additional 62 shares during the last quarter. STF Management LP increased its position in shares of Atlassian by 2.6% during the fourth quarter. STF Management LP now owns 2,551 shares of the technology company’s stock worth $607,000 after acquiring an additional 65 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TEAM shares. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. BMO Capital Markets cut their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Morgan Stanley cut their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $217.69.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56. Following the completion of the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at $21,749,622.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $175.00, for a total value of $133,000.00. Following the sale, the president now directly owns 152,534 shares in the company, valued at approximately $26,693,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $160.97, for a total transaction of $1,279,389.56. Following the completion of the transaction, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at $21,749,622.52. The disclosure for this sale can be found here. Insiders have sold a total of 248,107 shares of company stock worth $41,431,817 over the last 90 days. Corporate insiders own 40.48% of the company’s stock.

Atlassian Trading Up 0.9 %

Shares of Atlassian stock opened at $162.69 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $42.30 billion, a P/E ratio of -258.24 and a beta of 0.73. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The stock’s 50-day simple moving average is $165.55 and its 200 day simple moving average is $178.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. As a group, research analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

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.