Atlassian Co. (NASDAQ:TEAM) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its position in Atlassian Co. (NASDAQ:TEAM) by 25.8% during the 3rd quarter, Holdings Channel reports. The fund owned 230 shares of the technology company’s stock after selling 80 shares during the quarter. First Horizon Advisors Inc.’s holdings in Atlassian were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Financial Advocates Investment Management boosted its position in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Atlassian by 2.1% in the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares during the last quarter. Commerce Bank raised its holdings in Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Up 0.2 %

NASDAQ:TEAM opened at $261.00 on Tuesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $269.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a fifty day moving average price of $196.47 and a two-hundred day moving average price of $176.97. The stock has a market capitalization of $67.97 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TEAM shares. Canaccord Genuity Group increased their target price on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley boosted their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Scotiabank lifted their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating 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. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28. Following the sale, the chief executive officer now owns 158,960 shares of the company’s stock, valued at $26,444,585.60. This represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.53 % 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 in the last quarter. 38.55% of the stock is currently owned by corporate insiders.

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.