Capital Research Global Investors Sells 44,915 Shares of Atlassian Co. (NASDAQ:TEAM)

Capital Research Global Investors trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 37.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,118 shares of the technology company’s stock after selling 44,915 shares during the period. Capital Research Global Investors’ holdings in Atlassian were worth $14,851,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Graypoint LLC lifted its position in Atlassian by 2.4% during the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares during the period. UMB Bank n.a. increased its holdings in Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after acquiring an additional 56 shares in the last quarter. Park National Corp OH raised its stake in Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after acquiring an additional 58 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its holdings in Atlassian by 3.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,885 shares of the technology company’s stock valued at $448,000 after purchasing an additional 59 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total value of $1,222,720.32. Following the sale, the chief executive officer now directly owns 55,636 shares in the company, valued at $8,559,042.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Atlassian news, President Anutthara Bharadwaj sold 4,856 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total value of $894,766.56. Following the completion of the sale, the president now directly owns 156,994 shares of the company’s stock, valued at approximately $28,927,714.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total transaction of $1,222,720.32. Following the transaction, the chief executive officer now directly owns 55,636 shares in the company, valued at $8,559,042.24. The disclosure for this sale can be found here. Insiders sold 276,164 shares of company stock worth $47,848,092 over the last 90 days. Company insiders own 40.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Morgan Stanley dropped their price objective on Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Robert W. Baird decreased their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Truist Financial dropped their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $228.81.

Atlassian Trading Down 0.5 %

TEAM stock opened at $177.32 on Friday. Atlassian Co. has a twelve month low of $152.34 and a twelve month high of $258.69. The stock has a market capitalization of $46.16 billion, a price-to-earnings ratio of -281.46 and a beta of 0.74. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm’s fifty day simple moving average is $170.19 and its two-hundred day simple moving average is $193.91.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, analysts anticipate that Atlassian Co. will post -0.22 earnings per share for the current year.

Atlassian Profile

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.