Equitable Trust Co. Sells 7,932 Shares of Atlassian Co. (NASDAQ:TEAM)

Equitable Trust Co. decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 40.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,608 shares of the technology company’s stock after selling 7,932 shares during the quarter. Equitable Trust Co.’s holdings in Atlassian were worth $1,843,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TEAM. Vanguard Group Inc. boosted its stake in Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Dragoneer Investment Group LLC bought a new position in shares of Atlassian during the second quarter worth $469,803,000. Capital International Investors grew its holdings in shares of Atlassian by 6.3% in the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after buying an additional 144,117 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Atlassian by 6.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after buying an additional 130,253 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TEAM. Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Raymond James boosted their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler raised their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank upped their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Atlassian Stock Up 1.6 %

Atlassian stock opened at $237.80 on Friday. 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’s 50-day moving average is $179.57 and its 200-day moving average is $172.44. The firm has a market capitalization of $61.93 billion, a PE ratio of -156.45 and a beta of 0.71. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction 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 directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 245,662 shares of company stock valued at $44,653,051 in the last quarter. 38.55% of the stock is currently owned by insiders.

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.