Thoroughbred Financial Services LLC Invests $717,000 in Atlassian Co. (NASDAQ:TEAM)

Thoroughbred Financial Services LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,058 shares of the technology company’s stock, valued at approximately $717,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Atlassian by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 142,466 shares of the technology company’s stock valued at $33,891,000 after buying an additional 2,872 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Atlassian by 22.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,575 shares of the technology company’s stock valued at $5,845,000 after acquiring an additional 4,494 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Atlassian by 11.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,214 shares of the technology company’s stock valued at $289,000 after purchasing an additional 128 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $222,000. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Atlassian by 13.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 1,283 shares of the technology company’s stock worth $305,000 after purchasing an additional 150 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $160.00, for a total transaction of $121,600.00. Following the sale, the president now directly owns 153,294 shares of the company’s stock, valued at $24,527,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $163.95, for a total value of $1,303,074.60. Following the sale, the chief executive officer now owns 31,792 shares of the company’s stock, valued at approximately $5,212,298.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated 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 $24,527,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,159 shares of company stock worth $40,166,893. 40.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Oppenheimer dropped their target price on Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets reduced their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Finally, Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

Atlassian Trading Down 1.2 %

Atlassian stock opened at $163.74 on Monday. The business’s 50-day simple moving average is $163.71 and its 200-day simple moving average is $176.72. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The firm has a market capitalization of $42.58 billion, a PE ratio of -259.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

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