Janney Montgomery Scott LLC Has $2.14 Million Position in Atlassian Co. (NASDAQ:TEAM)

Janney Montgomery Scott LLC cut its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 51.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,488 shares of the technology company's stock after selling 14,470 shares during the period. Janney Montgomery Scott LLC's holdings in Atlassian were worth $2,142,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TEAM. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian in the 2nd quarter valued at about $36,000. GAMMA Investing LLC increased its position in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Atlassian in the 1st quarter valued at about $40,000. 93.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEAM. Robert W. Baird raised their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. The Goldman Sachs Group raised shares of Atlassian from a "neutral" rating to a "buy" rating and raised their target price for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price on shares of Atlassian from $250.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Morgan Stanley raised their target price 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, KeyCorp raised shares of Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price on the stock in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and a consensus target price of $243.16.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.62, for a total value of $1,205,075.76. Following the sale, the chief executive officer now directly owns 238,440 shares in the company, valued at $36,152,272.80. This trade represents a 0.00 % 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. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.62, for a total transaction of $1,205,075.76. Following the transaction, the chief executive officer now owns 238,440 shares in the company, valued at approximately $36,152,272.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,395 shares of company stock worth $46,787,439 over the last ninety days. Insiders own 38.55% of the company's stock.

Atlassian Stock Up 3.1 %

TEAM traded up $7.50 during trading on Wednesday, reaching $252.78. The company had a trading volume of 2,565,157 shares, compared to its average volume of 1,858,615. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The business's fifty day moving average price is $184.61 and its 200 day moving average price is $173.61. The company has a market cap of $65.83 billion, a P/E ratio of -166.30 and a beta of 0.71.

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 analysts' consensus estimates 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The business's revenue was up 21.5% on a year-over-year basis. Equities analysts anticipate that Atlassian Co. will post -0.56 EPS 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.