Allianz Asset Management GmbH Sells 2,870 Shares of Atlassian Co. (NASDAQ:TEAM)

Allianz Asset Management GmbH reduced its stake in Atlassian Co. (NASDAQ:TEAMFree Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,931 shares of the technology company’s stock after selling 2,870 shares during the period. Allianz Asset Management GmbH’s holdings in Atlassian were worth $8,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TEAM. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after acquiring an additional 291 shares in the last quarter. Operose Advisors LLC acquired a new position in shares of Atlassian in the 3rd quarter worth approximately $99,000. GAMMA Investing LLC acquired a new position in shares of Atlassian in the 4th quarter worth approximately $107,000. Finally, Valley National Advisers Inc. lifted its holdings in Atlassian by 30.4% during the 4th quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock worth $137,000 after buying an additional 135 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 582 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $215.00, for a total transaction of $125,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 45,865 shares in the company, valued at approximately $9,860,975. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $161.00, for a total value of $1,326,801.00. Following the completion of the sale, the chief executive officer now directly owns 160,425 shares in the company, valued at approximately $25,828,425. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 582 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $215.00, for a total transaction of $125,130.00. Following the completion of the sale, the chief accounting officer now owns 45,865 shares of the company’s stock, valued at $9,860,975. The disclosure for this sale can be found here. In the last 90 days, insiders sold 284,126 shares of company stock worth $53,896,140. Corporate insiders own 40.48% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research reports. TD Cowen reduced their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Citigroup reduced their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Robert W. Baird reduced their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group reduced their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler reduced their price objective on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $223.22.

Read Our Latest Analysis on TEAM

Atlassian Trading Up 1.6 %

TEAM opened at $159.42 on Tuesday. The company has a fifty day simple moving average of $185.44 and a 200 day simple moving average of $205.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 12 month low of $154.02 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAMGet Free Report) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, analysts predict that Atlassian Co. will post -0.23 EPS for the current fiscal year.

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.

See Also

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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