Empowered Funds LLC Sells 27,597 Shares of Atlassian Co. (NASDAQ:TEAM)

Empowered Funds LLC cut its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 92.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,408 shares of the technology company's stock after selling 27,597 shares during the period. Empowered Funds LLC's holdings in Atlassian were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock worth $306,000 after purchasing an additional 520 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Atlassian during the third quarter worth $97,350,000. Aigen Investment Management LP purchased a new position in Atlassian during the third quarter valued at $2,232,000. Finally, National Pension Service increased its holdings in Atlassian by 8.4% in the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company's stock valued at $47,018,000 after acquiring an additional 22,883 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Trading Up 0.5 %

TEAM stock traded up $1.23 during midday trading on Tuesday, reaching $262.23. The company's stock had a trading volume of 1,345,554 shares, compared to its average volume of 1,872,183. The firm has a market capitalization of $68.29 billion, a price-to-earnings ratio of -172.52 and a beta of 0.71. Atlassian Co. has a 1 year low of $135.29 and a 1 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. The stock has a fifty day simple moving average of $198.38 and a two-hundred day simple moving average of $177.54.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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. 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 firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. On average, equities research analysts predict that Atlassian Co. will post -0.56 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of several research reports. JMP Securities raised shares of Atlassian to a "hold" rating in a report on Friday, August 2nd. Oppenheimer raised their price target on Atlassian from $230.00 to $270.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on Atlassian from $225.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Mizuho increased their target price on Atlassian from $200.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on shares of Atlassian from $250.00 to $300.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Nine investment 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 currently has an average rating of "Moderate Buy" and an average price target of $244.21.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88. Following the completion of the sale, the director now owns 151,012 shares in the company, valued at approximately $24,737,275.72. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares of the company's stock, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,694 shares of company stock worth $49,802,725. Company insiders own 38.55% of the company's stock.

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.