Diversified Trust Co Sells 10,438 Shares of Atlassian Corporation PLC $TEAM

Diversified Trust Co cut its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 59.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,108 shares of the technology company’s stock after selling 10,438 shares during the quarter. Diversified Trust Co’s holdings in Atlassian were worth $1,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Atlassian by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company’s stock valued at $3,539,875,000 after buying an additional 436,541 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after acquiring an additional 1,545,546 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Atlassian by 24.1% during the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock worth $571,894,000 after acquiring an additional 523,035 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Atlassian by 1.9% in the second quarter. Geode Capital Management LLC now owns 2,356,798 shares of the technology company’s stock worth $476,800,000 after purchasing an additional 43,899 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Atlassian by 12.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,933,851 shares of the technology company’s stock valued at $392,282,000 after buying an additional 218,564 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Atlassian in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price objective for the company. BTIG Research assumed coverage on shares of Atlassian in a research report on Tuesday, December 16th. They set a “buy” rating and a $220.00 target price for the company. Citigroup reiterated a “buy” rating on shares of Atlassian in a research note on Wednesday, October 22nd. KeyCorp dropped their price target on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $300.00 target price on shares of Atlassian in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.23.

Atlassian Stock Performance

Shares of TEAM opened at $162.14 on Friday. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $42.66 billion, a PE ratio of -228.36, a price-to-earnings-growth ratio of 25.11 and a beta of 0.88. The stock has a 50-day moving average price of $158.04 and a 200-day moving average price of $171.25.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. Atlassian’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. As a group, equities analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 9,847 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $152.46, for a total value of $1,501,273.62. Following the transaction, the president owned 242,092 shares of the company’s stock, valued at $36,909,346.32. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $151.83, for a total value of $1,163,776.95. Following the completion of the sale, the chief executive officer directly owned 398,580 shares of the company’s stock, valued at approximately $60,516,401.40. This represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 566,379 shares of company stock worth $88,896,727. Corporate insiders own 36.66% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.