Natixis Advisors LLC Lowers Stake in Atlassian Co. (NASDAQ:TEAM)

Natixis Advisors LLC reduced its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 10.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 108,237 shares of the technology company’s stock after selling 13,085 shares during the period. Natixis Advisors LLC’s holdings in Atlassian were worth $17,189,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Asset Dedication LLC boosted its holdings 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 acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian in the second quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Atlassian in the first quarter valued at about $43,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 785 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the sale, the chief accounting officer now directly owns 57,938 shares in the company, valued at $13,905,120. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the sale, the chief executive officer now owns 230,492 shares of the company’s stock, valued at approximately $55,131,381.48. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,248 shares of company stock worth $46,207,176. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Atlassian stock opened at $247.73 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The firm has a 50 day moving average price of $189.47 and a 200 day moving average price of $175.00. The company has a market cap of $64.52 billion, a price-to-earnings ratio of -161.20 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) earnings per share. Atlassian’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEAM. UBS Group lifted their target price on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

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.