Raymond James Financial Services Advisors Inc. Has $1.88 Million Stake in Atlassian Co. (NASDAQ:TEAM)

Raymond James Financial Services Advisors Inc. cut its position in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 18.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,628 shares of the technology company’s stock after selling 3,306 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Atlassian were worth $1,882,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of Atlassian by 40.4% in the fourth quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock valued at $983,528,000 after acquiring an additional 2,199,990 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Atlassian by 7.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,767 shares of the technology company’s stock worth $6,404,000 after purchasing an additional 3,314 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Atlassian by 64.9% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,385 shares of the technology company’s stock worth $693,000 after purchasing an additional 2,120 shares during the period. Tiger Global Management LLC raised its position in shares of Atlassian by 13.2% in the third quarter. Tiger Global Management LLC now owns 1,722,503 shares of the technology company’s stock valued at $362,742,000 after buying an additional 200,703 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Atlassian by 29.7% in the fourth quarter. IFP Advisors Inc now owns 1,261 shares of the technology company’s stock valued at $299,000 after buying an additional 289 shares during the period. 45.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on TEAM shares. Mizuho lowered their price objective on Atlassian from $235.00 to $215.00 in a research note on Friday, May 5th. Oppenheimer restated an “outperform” rating and issued a $200.00 price target on shares of Atlassian in a research report on Monday, April 17th. Barclays cut their price objective on shares of Atlassian from $155.00 to $130.00 in a research report on Sunday, May 7th. KeyCorp raised their target price on shares of Atlassian from $174.00 to $187.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Finally, Robert W. Baird cut their price target on shares of Atlassian from $190.00 to $175.00 in a report on Friday, May 5th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $197.74.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction on Friday, February 24th. The shares were sold at an average price of $162.81, for a total value of $1,402,445.34. Following the completion of the sale, the chief executive officer now owns 215,350 shares in the company, valued at approximately $35,061,133.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Cannon-Brookes sold 8,614 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $162.81, for a total value of $1,402,445.34. Following the completion of the sale, the chief executive officer now directly owns 215,350 shares of the company’s stock, valued at approximately $35,061,133.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique T. Salem sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the sale, the director now directly owns 124,162 shares of the company’s stock, valued at approximately $16,141,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 322,726 shares of company stock valued at $49,595,254. 43.11% of the stock is currently owned by company insiders.

Atlassian Trading Up 0.8 %

Shares of TEAM stock opened at $160.64 on Thursday. The stock has a 50-day moving average of $153.05 and a 200-day moving average of $149.42. Atlassian Co. has a 1-year low of $113.86 and a 1-year 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.

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

Atlassian Profile

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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.