National Bank of Canada FI Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

National Bank of Canada FI lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 21.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,156 shares of the technology company’s stock after purchasing an additional 205 shares during the quarter. National Bank of Canada FI’s holdings in Atlassian were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Trust Direct Indexing L.P. grew its holdings in shares of Atlassian by 1.5% during the first 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 grew its holdings in shares of Atlassian by 4.0% during the first quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after purchasing 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 worth $662,000 after purchasing an additional 62 shares in the last quarter. STF Management LP grew its holdings 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 purchasing an additional 65 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 1.2 %

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

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Barclays dropped their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Mizuho dropped their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total value of $1,244,577.32. Following the completion of the transaction, the chief executive officer now owns 47,688 shares in the company, valued at $7,467,463.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the completion of the transaction, the chief executive officer now owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The disclosure for this sale can be found here. Insiders have sold 240,159 shares of company stock worth $40,166,893 over the last ninety days. 40.48% of the stock is owned by corporate insiders.

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.