UMB Bank n.a. Has $151,000 Stock Position in Atlassian Co. (NASDAQ:TEAM)

UMB Bank n.a. reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 23.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 855 shares of the technology company’s stock after selling 257 shares during the period. UMB Bank n.a.’s holdings in Atlassian were worth $151,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares during the period. Diversified Trust Co raised its holdings in Atlassian by 27.6% during the 1st quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after buying an additional 3,035 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Atlassian by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Alberta Investment Management Corp raised its holdings in shares of Atlassian by 16.1% in the fourth quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after purchasing an additional 13,328 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Morgan Stanley lowered their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $217.69.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $160.00, for a total value of $121,600.00. Following the completion of the sale, the president now owns 153,294 shares of the company’s stock, valued at $24,527,040. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $160.00, for a total value of $121,600.00. Following the completion of the sale, the president now owns 153,294 shares of the company’s stock, valued at $24,527,040. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the sale, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at approximately $88,928,582.40. The disclosure for this sale can be found here. Insiders sold a total of 256,348 shares of company stock valued at $42,730,178 over the last ninety days. 40.48% of the stock is currently owned by company insiders.

Atlassian Trading Down 1.1 %

TEAM stock opened at $165.60 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average price of $166.33 and a two-hundred day moving average price of $180.21. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The stock has a market cap of $43.06 billion, a price-to-earnings ratio of -262.86 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. Equities analysts anticipate that Atlassian Co. will post -0.57 EPS for the current year.

About Atlassian

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.