State of Alaska Department of Revenue Has $1.86 Million Position in Atlassian Co. (NASDAQ:TEAM)

State of Alaska Department of Revenue cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 54.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,720 shares of the technology company’s stock after selling 13,745 shares during the quarter. State of Alaska Department of Revenue’s holdings in Atlassian were worth $1,861,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Atlassian by 96.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,730 shares of the technology company’s stock valued at $1,228,000 after purchasing an additional 3,797 shares during the last quarter. Forsta AP Fonden raised its holdings in Atlassian by 11.7% during the third quarter. Forsta AP Fonden now owns 34,500 shares of the technology company’s stock valued at $5,479,000 after buying an additional 3,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Atlassian by 17.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,724 shares of the technology company’s stock valued at $4,470,000 after buying an additional 4,111 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Atlassian by 36.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,869 shares of the technology company’s stock worth $297,000 after acquiring an additional 500 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

NASDAQ:TEAM opened at $224.35 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 50-day moving average of $172.01 and a 200-day moving average of $171.24. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a market capitalization of $58.34 billion, a price-to-earnings ratio of -193.41 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company 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 previous year, the business earned ($0.21) earnings per share. As a group, equities research analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Mizuho boosted their target price on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a report on Friday. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $243.16.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred 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 transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the sale, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,185 shares of company stock valued at $39,155,661. 38.55% of the stock is currently owned by company insiders.

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.