Atlassian Co. (NASDAQ:TEAM) Shares Sold by American Trust

American Trust trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 14.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,644 shares of the technology company’s stock after selling 452 shares during the period. American Trust’s holdings in Atlassian were worth $453,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Andesa Financial Management Inc. acquired a new position in Atlassian in the first quarter valued at approximately $233,000. Carmel Capital Partners LLC acquired a new position in Atlassian in the first quarter valued at approximately $34,000. Allworth Financial LP boosted its stake in Atlassian by 2,411.1% in the first quarter. Allworth Financial LP now owns 226 shares of the technology company’s stock valued at $39,000 after acquiring an additional 217 shares during the period. Meeder Asset Management Inc. boosted its stake in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the period. Finally, WealthPLAN Partners LLC acquired a new position in Atlassian in the first quarter valued at approximately $43,000. 53.36% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

NASDAQ TEAM opened at $209.40 on Friday. The stock has a market capitalization of $53.90 billion, a P/E ratio of -110.79 and a beta of 0.70. Atlassian Co. has a 1 year low of $113.86 and a 1 year high of $259.68. The business’s fifty day moving average is $189.50 and its two-hundred day moving average is $170.98. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.35 and a current ratio of 1.35.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.04. The company had revenue of $939.10 million for the quarter, compared to analysts’ expectations of $911.23 million. Atlassian had a negative return on equity of 61.15% and a negative net margin of 13.77%. On average, research analysts forecast that Atlassian Co. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CRO Cameron Deatsch sold 3,411 shares of Atlassian stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $209.73, for a total transaction of $715,389.03. Following the transaction, the executive now directly owns 101,634 shares in the company, valued at approximately $21,315,698.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Atlassian news, CRO Cameron Deatsch sold 3,411 shares of Atlassian stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $209.73, for a total transaction of $715,389.03. Following the transaction, the executive now directly owns 101,634 shares in the company, valued at approximately $21,315,698.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $176.98, for a total transaction of $437,140.60. Following the transaction, the president now owns 200,856 shares in the company, valued at $35,547,494.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 335,958 shares of company stock valued at $62,167,964. Corporate insiders own 43.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on Atlassian from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Citigroup lifted their price target on Atlassian from $195.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 price target on shares of Atlassian in a report on Friday, August 4th. Truist Financial lifted their price target on Atlassian from $150.00 to $200.00 and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Barclays lifted their price target on Atlassian from $165.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.81.

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.