Blair William & Co. IL Trims Stock Position in Atlassian Corporation PLC $TEAM

Blair William & Co. IL reduced its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 17.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,016 shares of the technology company’s stock after selling 8,587 shares during the period. Blair William & Co. IL’s holdings in Atlassian were worth $6,710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in shares of Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 2,267 shares during the last quarter. Empowered Funds LLC raised its position in shares of Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after buying an additional 1,328 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after buying an additional 1,014 shares during the period. Geneos Wealth Management Inc. boosted its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after acquiring an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

Atlassian stock opened at $78.01 on Wednesday. Atlassian Corporation PLC has a 12-month low of $67.85 and a 12-month high of $242.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of -108.35, a price-to-earnings-growth ratio of 324.98 and a beta of 0.94. The firm’s fifty day moving average price is $109.29 and its 200 day moving average price is $142.72.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. On average, research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. KeyCorp decreased their price objective on Atlassian from $210.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Barclays dropped their target price on Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Zacks Research lowered Atlassian from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald lowered their price target on Atlassian from $240.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price objective (down from $280.00) on shares of Atlassian in a research note on Friday, February 6th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.32.

Insider Transactions at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 3,072 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $249,907.20. Following the completion of the sale, the chief technology officer directly owned 212,916 shares in the company, valued at approximately $17,320,716.60. The trade was a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the sale, the chief executive officer directly owned 275,940 shares in the company, valued at $26,161,871.40. This trade represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 359,131 shares of company stock valued at $50,672,589 over the last 90 days. Corporate insiders own 36.66% of the company’s stock.

About Atlassian

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.