SYSTM Wealth Solutions LLC Trims Stake in Atlassian Co. (NASDAQ:TEAM)

SYSTM Wealth Solutions LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 80.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 922 shares of the technology company’s stock after selling 3,749 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Atlassian were worth $163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Trust Direct Indexing L.P. lifted its stake in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the period. Park National Corp OH lifted its position in shares of Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after acquiring an additional 58 shares during the period. Financial Advocates Investment Management boosted its stake in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. grew 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 period. Finally, UMB Bank n.a. increased its stake in Atlassian by 6.8% in the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TEAM shares. Barclays lowered their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company dropped their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a report on Thursday, July 11th. BMO Capital Markets dropped their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley lowered their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $217.69.

Atlassian Trading Up 2.6 %

Shares of TEAM stock opened at $159.84 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50-day simple moving average is $162.64 and its 200-day simple moving average is $175.93. The firm has a market cap of $41.56 billion, a P/E ratio of -253.71 and a beta of 0.73.

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

Insider Activity

In related news, President Anutthara Bharadwaj sold 760 shares of the 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 completion of the sale, the president now owns 153,294 shares of the company’s stock, valued at approximately $24,527,040. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The shares were 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 owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The disclosure for this sale can be found here. Insiders have sold 232,211 shares of company stock valued at $39,011,254 in the last three months. Corporate insiders own 40.48% of the company’s stock.

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.