Raymond James & Associates Sells 19,779 Shares of Atlassian Co. (NASDAQ:TEAM)

Raymond James & Associates decreased its holdings in Atlassian Co. (NASDAQ:TEAMFree Report) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,077 shares of the technology company’s stock after selling 19,779 shares during the quarter. Raymond James & Associates owned 0.07% of Atlassian worth $40,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Atlassian by 0.8% during the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock valued at $2,992,720,000 after purchasing an additional 112,482 shares in the last quarter. WCM Investment Management LLC lifted its holdings in Atlassian by 0.3% during the first quarter. WCM Investment Management LLC now owns 9,532,236 shares of the technology company’s stock valued at $1,631,633,000 after purchasing an additional 28,479 shares in the last quarter. BlackRock Inc. lifted its holdings in Atlassian by 12.4% during the second quarter. BlackRock Inc. now owns 8,501,011 shares of the technology company’s stock valued at $1,426,555,000 after purchasing an additional 937,538 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Atlassian by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after purchasing an additional 63,903 shares in the last quarter. Finally, State Street Corp lifted its holdings in Atlassian by 2.5% during the second quarter. State Street Corp now owns 3,052,936 shares of the technology company’s stock valued at $512,313,000 after purchasing an additional 73,127 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $221.40, for a total value of $1,824,557.40. Following the sale, the chief executive officer now directly owns 477,978 shares in the company, valued at approximately $105,824,329.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $221.40, for a total value of $1,824,557.40. Following the completion of the transaction, the chief executive officer now directly owns 477,978 shares of the company’s stock, valued at approximately $105,824,329.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the transaction, the president now directly owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,159 shares of company stock worth $63,767,765. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Up 1.0 %

Shares of Atlassian stock opened at $195.11 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The firm’s 50-day moving average is $214.05 and its two-hundred day moving average is $206.96. The stock has a market cap of $50.61 billion, a price-to-earnings ratio of -130.95 and a beta of 0.64.

Atlassian (NASDAQ:TEAMGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on TEAM shares. Scotiabank initiated coverage on shares of Atlassian in a report on Friday, December 1st. They set a “sector perform” rating and a $185.00 price target on the stock. UBS Group reduced their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Mizuho boosted their price target on shares of Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group boosted their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Finally, Citigroup boosted their price target on shares of Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $225.19.

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About Atlassian

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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