Atlassian Co. (NASDAQ:TEAM) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its stake in Atlassian Co. (NASDAQ:TEAM) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 31,074 shares of the technology company’s stock after selling 272 shares during the period. IFM Investors Pty Ltd’s holdings in Atlassian were worth $4,935,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Founders Financial Securities LLC lifted its stake in Atlassian by 14.3% during the first quarter. Founders Financial Securities LLC now owns 2,099 shares of the technology company’s stock worth $410,000 after purchasing an additional 263 shares during the last quarter. Diversified Trust Co lifted its position in shares of Atlassian by 27.6% in the 1st quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after buying an additional 3,035 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Atlassian in the 1st quarter valued at about $254,000. Allspring Global Investments Holdings LLC grew its position in shares of Atlassian by 123.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock valued at $12,069,000 after buying an additional 34,204 shares during the last quarter. Finally, Valley National Advisers Inc. raised its stake in Atlassian by 54.7% during the first quarter. Valley National Advisers Inc. now owns 896 shares of the technology company’s stock worth $174,000 after acquiring an additional 317 shares during the period. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TEAM. BMO Capital Markets decreased their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and raised their target price for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.47.

Atlassian Stock Down 0.3 %

TEAM opened at $188.73 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $49.13 billion, a PE ratio of -299.57 and a beta of 0.73. The stock’s fifty day moving average is $169.41 and its 200-day moving average is $171.50. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued 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 analysts’ expectations of $1.13 billion. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. On average, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, July 29th. The stock was 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 of the company’s stock, valued at approximately $62,584,459.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’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 sale, the chief executive officer now owns 349,712 shares in the company, valued at approximately $62,584,459.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,185 shares of company stock worth $38,597,791. 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.