Atlassian Co. (NASDAQ:TEAM) Shares Sold by American Trust

American Trust decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,591 shares of the technology company’s stock after selling 261 shares during the period. American Trust’s holdings in Atlassian were worth $310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management increased its position in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian in the first quarter worth $40,000. Crewe Advisors LLC acquired a new stake in shares of Atlassian in the first quarter worth $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after acquiring an additional 291 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm’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 transaction, the chief executive officer now owns 476,880 shares of the company’s stock, valued at approximately $88,928,582.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Scott Farquhar sold 7,948 shares of the firm’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 transaction, the chief executive officer now owns 476,880 shares in the company, valued at approximately $88,928,582.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the transaction, the president now owns 153,294 shares of the company’s stock, valued at approximately $24,527,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,285 shares of company stock valued at $47,692,054. Company insiders own 40.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Scotiabank decreased their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday. BMO Capital Markets decreased their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $175.00 in a research note on Friday. TD Cowen decreased their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Mizuho decreased their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $219.25.

Atlassian Stock Performance

Shares of TEAM stock traded down $29.56 during trading hours on Friday, reaching $143.68. The stock had a trading volume of 8,355,883 shares, compared to its average volume of 1,392,661. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a twelve month low of $141.21 and a twelve month high of $258.69. The firm has a 50-day simple moving average of $169.60 and a 200-day simple moving average of $191.43. The firm has a market capitalization of $37.40 billion, a PE ratio of -228.06 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 earnings per share 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 18.13%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, equities analysts forecast that Atlassian Co. will post -0.23 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.