Cambridge Investment Research Advisors Inc. Sells 146 Shares of Atlassian Co. (NASDAQ:TEAM)

Cambridge Investment Research Advisors Inc. decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,138 shares of the technology company’s stock after selling 146 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Atlassian were worth $919,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. California Public Employees Retirement System boosted its holdings in Atlassian by 1.0% in the 4th quarter. California Public Employees Retirement System now owns 310,765 shares of the technology company’s stock valued at $39,989,000 after purchasing an additional 3,120 shares during the period. Trivest Advisors Ltd bought a new stake in Atlassian in the 4th quarter valued at about $1,930,000. Desjardins Global Asset Management Inc. boosted its holdings in Atlassian by 6.3% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the technology company’s stock valued at $336,000 after purchasing an additional 155 shares during the period. Russell Investments Group Ltd. boosted its holdings in Atlassian by 15.3% in the 4th quarter. Russell Investments Group Ltd. now owns 131,302 shares of the technology company’s stock valued at $16,902,000 after purchasing an additional 17,393 shares during the period. Finally, Lincoln National Corp bought a new stake in Atlassian in the 4th quarter valued at about $328,000. Institutional investors own 45.50% of the company’s stock.

Atlassian Trading Down 0.7 %

TEAM opened at $146.99 on Friday. Atlassian Co. has a fifty-two week low of $113.86 and a fifty-two week high of $300.29. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of -71.01 and a beta of 0.82. The company’s 50 day moving average price is $153.01 and its two-hundred day moving average price is $149.37.

Atlassian (NASDAQ:TEAM – Get Rating) last posted its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. The business had revenue of $915.45 million for the quarter, compared to the consensus estimate of $898.71 million. As a group, research analysts predict that Atlassian Co. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,614 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $141.58, for a total transaction of $1,219,570.12. Following the sale, the chief executive officer now directly owns 252,078 shares of the company’s stock, valued at approximately $35,689,203.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,614 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $141.58, for a total value of $1,219,570.12. Following the sale, the chief executive officer now directly owns 252,078 shares of the company’s stock, valued at approximately $35,689,203.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 2,622 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $164.83, for a total transaction of $432,184.26. Following the completion of the sale, the president now directly owns 131,459 shares in the company, valued at $21,668,386.97. The disclosure for this sale can be found here. Insiders have sold 312,116 shares of company stock valued at $48,297,181 in the last ninety days. 43.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Atlassian from $174.00 to $187.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Canaccord Genuity Group boosted their target price on shares of Atlassian from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Morgan Stanley dropped their target price on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Mizuho dropped their target price on shares of Atlassian from $235.00 to $215.00 in a research report on Friday, May 5th. Finally, BMO Capital Markets dropped their target price on shares of Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $197.74.

About Atlassian

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.