Empowered Funds LLC Has $382,000 Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Empowered Funds LLC decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 92.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,408 shares of the technology company’s stock after selling 27,597 shares during the quarter. Empowered Funds LLC’s holdings in Atlassian were worth $382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $469,803,000. Bank of New York Mellon Corp boosted its stake in shares of Atlassian by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock worth $138,619,000 after acquiring an additional 26,555 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Atlassian during the 2nd quarter worth approximately $91,072,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Atlassian by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock valued at $58,165,000 after acquiring an additional 6,470 shares during the period. Institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at $13,339,425.60. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,301,961.88. Following the completion of the transaction, the director now owns 151,012 shares of the company’s stock, valued at $24,737,275.72. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,746 shares of company stock valued at $47,702,864 over the last ninety days. 38.55% of the stock is owned by corporate insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $261.00 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $67.97 billion, a PE ratio of -176.14 and a beta of 0.71. The firm has a 50 day moving average of $196.47 and a 200-day moving average of $176.97. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40.

Atlassian (NASDAQ:TEAM) last released 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. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned ($0.07) earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, equities research analysts predict that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Morgan Stanley upped their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a report on Friday, November 1st. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Mizuho boosted their price target on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.