Whittier Trust Co. of Nevada Inc. Sells 93 Shares of Atlassian Co. (NASDAQ:TEAM)

Whittier Trust Co. of Nevada Inc. decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 29.6% in the 3rd quarter, Holdings Channel reports. The fund owned 221 shares of the technology company’s stock after selling 93 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Atlassian were worth $35,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. boosted its position in 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 during the period. Financial Advocates Investment Management boosted its holdings in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares during the period. Daiwa Securities Group Inc. raised its holdings in Atlassian by 0.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock valued at $3,813,000 after acquiring an additional 72 shares during the period. Finally, SkyView Investment Advisors LLC lifted its position in shares of Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $189.35 on Friday. The stock’s 50-day moving average is $168.72 and its 200 day moving average is $171.79. The stock has a market cap of $49.29 billion, a price-to-earnings ratio of -300.56 and a beta of 0.73. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. 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 (NASDAQ:TEAM) last posted its quarterly earnings results 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted ($0.21) earnings per share. The business’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TEAM shares. UBS Group lifted their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday. JMP Securities upgraded Atlassian to a “hold” rating in a research report on Friday, August 2nd. Truist Financial lowered their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Finally, Robert W. Baird cut shares of Atlassian from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $230.00 to $175.00 in a research note 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.47.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $178.96, for a total transaction of $1,422,374.08. Following the transaction, the chief executive officer now directly owns 349,712 shares of the company’s stock, valued at approximately $62,584,459.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $178.96, for a total value of $1,422,374.08. Following the transaction, the chief executive officer now owns 349,712 shares in the company, valued at approximately $62,584,459.52. 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 accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $38,597,791 over the last three months. 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.