Glenmede Trust Co. NA Cuts Stake in Atlassian Co. (NASDAQ:TEAM)

Glenmede Trust Co. NA reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 47.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,861 shares of the technology company's stock after selling 5,350 shares during the quarter. Glenmede Trust Co. NA's holdings in Atlassian were worth $931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TEAM. Asset Dedication LLC raised its holdings in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont boosted its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock worth $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in Atlassian in the 2nd quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new position in Atlassian during the third quarter worth $48,000. 93.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Atlassian from $177.00 to $255.00 and gave the stock a "market perform" rating in a report on Friday, November 1st. Oppenheimer boosted their price target on Atlassian from $230.00 to $270.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their price objective on Atlassian from $225.00 to $255.00 and gave the company a "buy" rating in a report on Friday, November 1st. Morgan Stanley upped their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.21.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the completion of the transaction, the director now directly owns 158,960 shares in the company, valued at $42,277,001.60. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 1,024 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the transaction, the chief accounting officer now owns 59,168 shares of the company's stock, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,642 shares of company stock worth $53,473,430 in the last quarter. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Up 0.9 %

Shares of Atlassian stock traded up $2.48 during trading hours on Tuesday, reaching $268.36. The company's stock had a trading volume of 1,383,394 shares, compared to its average volume of 2,083,469. The company has a market capitalization of $69.89 billion, a P/E ratio of -176.55 and a beta of 0.80. The stock's fifty day simple moving average is $208.64 and its two-hundred day simple moving average is $180.38. Atlassian Co. has a one year low of $135.29 and a one year high of $269.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the firm earned ($0.07) EPS. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. On average, research analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Atlassian Company 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.