Headlands Technologies LLC Sells 7,936 Shares of Atlassian Co. (NASDAQ:TEAM)

Headlands Technologies LLC trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 83.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,591 shares of the technology company’s stock after selling 7,936 shares during the quarter. Headlands Technologies LLC’s holdings in Atlassian were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Atlassian by 8.8% in the 1st 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 acquiring an additional 904,138 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Atlassian by 7.9% in 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 in the last quarter. Capital International Investors increased its stake in Atlassian by 6.3% during the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after purchasing an additional 144,117 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Atlassian by 6.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after purchasing an additional 130,253 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TEAM. Morgan Stanley reduced their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Oppenheimer reduced their price objective on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Scotiabank reduced their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Stock Performance

TEAM opened at $163.74 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $42.58 billion, a price-to-earnings ratio of -259.90 and a beta of 0.73. The company’s 50 day moving average is $163.71 and its 200 day moving average is $177.13. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69.

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

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the sale, the president now owns 153,294 shares in the company, valued at approximately $24,527,040. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the sale, the president now owns 153,294 shares in the company, valued at approximately $24,527,040. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the sale, the chief executive officer now owns 47,688 shares in the company, valued at approximately $7,467,463.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,159 shares of company stock valued at $40,166,893. 40.48% of the stock is owned by insiders.

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.