Atlassian Co. (NASDAQ:TEAM) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 37.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 657 shares of the technology company’s stock after selling 386 shares during the quarter. Farther Finance Advisors LLC’s holdings in Atlassian were worth $104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TEAM. Financial Advocates Investment Management boosted its stake in shares of Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Up 3.4 %

Shares of TEAM opened at $245.85 on Tuesday. The stock has a market cap of $64.03 billion, a price-to-earnings ratio of -161.97 and a beta of 0.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a 50-day moving average price of $179.57 and a two-hundred day moving average price of $172.26.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) earnings per share. Equities analysts predict that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TEAM. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. UBS Group raised their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Mizuho lifted their target price on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group boosted their price target on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.16.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76. Following the completion of the transaction, the chief executive officer now owns 238,440 shares in the company, valued at $36,152,272.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Gene Liu sold 445 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $230.00, for a total value of $102,350.00. Following the completion of the sale, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at $13,506,290. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76. Following the completion of the sale, the chief executive officer now directly owns 238,440 shares of the company’s stock, valued at approximately $36,152,272.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 245,662 shares of company stock worth $44,653,051 over the last quarter. Company insiders own 38.55% of the company’s stock.

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.