Raymond James & Associates Lowers Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Raymond James & Associates lowered its stake in Atlassian Co. (NASDAQ:TEAM) by 88.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,845 shares of the technology company’s stock after selling 143,315 shares during the period. Raymond James & Associates’ holdings in Atlassian were worth $2,834,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TEAM. Asset Dedication LLC boosted its position in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC bought a new position in shares of Atlassian in the 2nd quarter valued at about $36,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian in the 1st quarter worth about $40,000. Finally, Crewe Advisors LLC purchased a new position in shares of Atlassian during the first quarter worth approximately $43,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of recent research reports. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Jefferies Financial Group upped their target price on shares of Atlassian from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler raised their price objective on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.16.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the transaction, the president now owns 224,436 shares in the company, valued at $50,599,096.20. 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 available at the SEC website. In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the sale, the director now owns 151,012 shares in the company, valued at approximately $24,737,275.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares of the company’s stock, valued at approximately $50,599,096.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,269 shares of company stock valued at $41,382,072 in the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 2.4 %

Atlassian stock opened at $218.96 on Tuesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The business has a fifty day moving average of $174.38 and a two-hundred day moving average of $171.31. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market cap of $56.94 billion, a P/E ratio of -144.05 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned ($0.07) EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

About Atlassian

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.