Atlassian Corporation PLC $TEAM Stock Sold by MGO One Seven LLC

MGO One Seven LLC trimmed its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 33.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,402 shares of the technology company’s stock after selling 6,296 shares during the quarter. MGO One Seven LLC’s holdings in Atlassian were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Carmignac Gestion raised its stake in Atlassian by 115.8% in the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after buying an additional 1,397,402 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after acquiring an additional 766,922 shares during the last quarter. KBC Group NV increased its holdings in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after acquiring an additional 1,359,624 shares in the last quarter. Swiss National Bank increased its holdings in shares of Atlassian by 8.2% during the first quarter. Swiss National Bank now owns 493,267 shares of the technology company’s stock valued at $33,665,000 after acquiring an additional 37,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Atlassian by 111.7% during the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock valued at $84,105,000 after acquiring an additional 247,540 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. Robert W. Baird increased their price objective on shares of Atlassian from $200.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. Raymond James Financial set a $180.00 price target on shares of Atlassian in a research note on Friday, August 7th. Truist Financial raised their price target on shares of Atlassian from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. BTIG Research lifted their price objective on shares of Atlassian from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $225.00 price objective on shares of Atlassian in a report on Friday. Twenty-three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.76.

Atlassian Trading Up 2.1%

Atlassian stock opened at $191.05 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $229.96. The company has a market capitalization of $48.36 billion, a price-to-earnings ratio of 187.08, a price-to-earnings-growth ratio of 19.95 and a beta of 1.16. The stock has a 50-day moving average price of $195.93 and a 200 day moving average price of $118.76.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Atlassian’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts anticipate that Atlassian Corporation PLC will post 0.69 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 1,851 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $319,204.95. Following the sale, the executive owned 218,223 shares in the company, valued at $37,632,556.35. This represents a 0.84% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total transaction of $70,770.00. Following the completion of the sale, the chief accounting officer owned 55,531 shares in the company, valued at $11,661,510. The trade was a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,475 shares of company stock worth $3,822,643. Company insiders own 37.63% of the company’s stock.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.