Vontobel Holding Ltd. Reduces Stake in Atlassian Co. (NASDAQ:TEAM)

Vontobel Holding Ltd. decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 5,335 shares of the technology company’s stock after selling 190 shares during the period. Vontobel Holding Ltd.’s holdings in Atlassian were worth $847,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co lifted its holdings in Atlassian by 27.6% during the 1st quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after purchasing an additional 3,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after purchasing an additional 10,434 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Atlassian by 2.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Atlassian in the 2nd quarter valued at about $12,846,000. Finally, Burney Co. purchased a new stake in shares of Atlassian in the 1st quarter valued at about $1,095,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Up 1.7 %

Shares of NASDAQ:TEAM opened at $191.70 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The stock’s fifty day moving average price is $164.91 and its 200-day moving average price is $171.56.

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

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $169.47, for a total transaction of $1,346,947.56. Following the transaction, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at $63,306,535.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated 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 owns 128,957 shares in the company, valued at $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56. Following the sale, the chief executive officer now owns 373,556 shares of the company’s stock, valued at $63,306,535.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,477 shares of company stock valued at $36,659,811 over the last ninety days. 40.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TEAM shares. Morgan Stanley raised their price target on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. BMO Capital Markets lowered their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, The Goldman Sachs Group raised 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 report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.12.

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.