Atria Investments Inc Sells 8,803 Shares of Atlassian Co. (NASDAQ:TEAM)

Atria Investments Inc cut its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 65.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,736 shares of the technology company's stock after selling 8,803 shares during the period. Atria Investments Inc's holdings in Atlassian were worth $752,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Asset Dedication LLC raised its holdings in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock valued at $27,000 after buying an additional 108 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of 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 bought a new stake in Atlassian during the second quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings in Atlassian by 68.6% during the third 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, Crewe Advisors LLC bought a new position in shares of Atlassian in the first quarter valued at approximately $43,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of Atlassian stock traded up $7.61 during mid-day trading on Tuesday, reaching $246.30. 1,706,033 shares of the stock were exchanged, compared to its average volume of 1,865,594. The company has a market cap of $64.14 billion, a price-to-earnings ratio of -161.20 and a beta of 0.71. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week 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 firm has a 50-day simple moving average of $189.47 and a 200 day simple moving average of $175.00.

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

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the firm's stock in a transaction that occurred 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 $23,482,294.26. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the completion of the transaction, the director now owns 270,232 shares of the company's stock, valued at $66,163,602.88. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,248 shares of company stock valued at $45,553,294. 38.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TEAM shares. The Goldman Sachs Group upgraded shares of Atlassian from a "neutral" rating to a "buy" rating and upped their price target for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Mizuho upped their price target on Atlassian from $200.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Morgan Stanley raised their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. KeyCorp upgraded shares of Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.21.

Atlassian 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.