Sanctuary Advisors LLC Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Sanctuary Advisors LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,693 shares of the technology company’s stock, valued at approximately $1,022,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Dedication LLC raised its holdings in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management raised its stake in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC purchased a new position in shares of Atlassian in the 2nd quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Atlassian in the first quarter worth about $40,000. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TEAM shares. BMO Capital Markets dropped 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. Morgan Stanley raised their price objective on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho reduced their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, Barclays reduced their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.29.

Atlassian Trading Up 1.7 %

TEAM stock opened at $187.06 on Friday. The firm has a market cap of $48.64 billion, a PE ratio of -161.26 and a beta of 0.73. The firm has a fifty day moving average price of $158.96 and a 200 day moving average price of $172.04. 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 Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted ($0.21) EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Sell-side analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $180.42, for a total transaction of $1,433,978.16. Following the transaction, the chief executive officer now owns 413,296 shares of the company’s stock, valued at approximately $74,566,864.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total value of $133,000.00. Following the completion of the sale, the president now owns 152,534 shares of the company’s stock, valued at $26,693,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $180.42, for a total value of $1,433,978.16. Following the transaction, the chief executive officer now directly owns 413,296 shares in the company, valued at approximately $74,566,864.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 238,133 shares of company stock valued at $39,405,557 in the last ninety days. Insiders own 40.48% of the company’s stock.

Atlassian 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.