Savant Capital LLC Has $499,000 Holdings in Atlassian Corporation PLC $TEAM

Savant Capital LLC lowered its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 85.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,126 shares of the technology company’s stock after selling 17,753 shares during the period. Savant Capital LLC’s holdings in Atlassian were worth $499,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

TEAM has been the topic of several analyst reports. KeyCorp cut their price target on shares of Atlassian from $210.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Guggenheim cut their target price on Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. TD Cowen reduced their target price on Atlassian from $205.00 to $175.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Oppenheimer dropped their price target on Atlassian from $275.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Finally, Mizuho cut their price objective on Atlassian from $225.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.32.

Insider Activity

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $94.81, for a total transaction of $726,718.65. Following the completion of the sale, the chief executive officer directly owned 275,940 shares in the company, valued at approximately $26,161,871.40. This trade represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 513,177 shares of company stock worth $74,514,517. Insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $86.48 on Friday. The business’s 50 day simple moving average is $139.28 and its 200 day simple moving average is $155.36. Atlassian Corporation PLC has a 12 month low of $83.17 and a 12 month high of $320.88. The company has a market cap of $22.75 billion, a price-to-earnings ratio of -120.11, a PEG ratio of 72.60 and a beta of 0.88. The company has a current ratio of 0.89, a quick ratio of 1.26 and a debt-to-equity ratio of 0.62.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) 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 firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The business’s revenue was up 23.3% on a year-over-year basis. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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.