Independent Advisor Alliance Cuts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Independent Advisor Alliance trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,990 shares of the technology company’s stock after selling 65 shares during the quarter. Independent Advisor Alliance’s holdings in Atlassian were worth $475,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont lifted its holdings in Atlassian by 2,175.0% during 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 in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the third quarter worth $48,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the transaction, the chief executive officer now directly owns 500,724 shares in the company, valued at $80,020,702.44. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,694 shares of company stock worth $50,560,726. 38.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays lowered their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Mizuho upped their target price on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Raymond James raised their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird boosted their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Stock Up 0.1 %

TEAM stock opened at $262.46 on Friday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $68.35 billion, a price-to-earnings ratio of -172.67 and a beta of 0.71. The company has a fifty day moving average price of $204.55 and a 200 day moving average price of $179.29.

Atlassian (NASDAQ:TEAM) last announced its 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. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Sell-side analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

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.