Atlassian Co. (NASDAQ:TEAM) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC reduced its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 12.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,645 shares of the technology company's stock after selling 2,414 shares during the quarter. Curi RMB Capital LLC's holdings in Atlassian were worth $2,643,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TEAM. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Atlassian by 25.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 96,296 shares of the technology company's stock valued at $18,788,000 after purchasing an additional 19,299 shares during the last quarter. M&G Plc bought a new position in shares of Atlassian during the first quarter valued at $6,676,000. Intech Investment Management LLC increased its position in shares of Atlassian by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 8,626 shares of the technology company's stock worth $1,683,000 after purchasing an additional 230 shares in the last quarter. Vanguard Group Inc. increased its holdings in Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company's stock valued at $3,039,287,000 after purchasing an additional 221,650 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Atlassian by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,072,078 shares of the technology company's stock valued at $209,145,000 after buying an additional 75,724 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the sale, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. This represents a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company's stock, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,248 shares of company stock valued at $45,553,294 in the last quarter. 38.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TEAM. Raymond James lifted their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. The Goldman Sachs Group upgraded Atlassian from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Scotiabank lifted their price objective on Atlassian from $175.00 to $250.00 and gave the company a "sector perform" rating in a report on Friday, November 1st. Truist Financial raised their price target on shares of Atlassian from $160.00 to $200.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price on Atlassian from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.21.

Atlassian Trading Down 4.0 %

Shares of TEAM traded down $9.95 during trading hours on Friday, reaching $240.04. 2,279,443 shares of the company traded hands, compared to its average volume of 1,864,679. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average price is $187.95 and its 200 day moving average price is $174.58. The firm has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm's revenue was up 21.5% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. Sell-side analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current year.

About Atlassian

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.