Equitable Trust Co. Decreases Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Equitable Trust Co. lowered its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 40.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,608 shares of the technology company's stock after selling 7,932 shares during the period. Equitable Trust Co.'s holdings in Atlassian were worth $1,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Dedication LLC grew its position in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock worth $27,000 after buying an additional 108 shares in the last quarter. Trust Co. of Vermont lifted its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the 2nd quarter worth $36,000. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after purchasing an additional 96 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian in the first quarter worth approximately $40,000. Institutional investors own 93.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TEAM. JMP Securities raised shares of Atlassian to a "hold" rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Atlassian from $250.00 to $300.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Piper Sandler lifted their price objective on Atlassian from $225.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Mizuho boosted their target price on Atlassian from $200.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Raymond James raised their price target on Atlassian from $200.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $243.16.

Atlassian Stock Up 1.6 %

Shares of Atlassian stock traded up $3.84 during trading on Friday, hitting $237.80. The company's stock had a trading volume of 2,514,459 shares, compared to its average volume of 2,529,578. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. 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 company has a fifty day simple moving average of $179.57 and a two-hundred day simple moving average of $172.26. The company has a market capitalization of $61.93 billion, a PE ratio of -156.45 and a beta of 0.71.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm 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 business's revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. Equities research analysts predict that Atlassian Co. will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $237.04, for a total transaction of $1,883,993.92. Following the completion of the transaction, the director now directly owns 278,180 shares in the company, valued at $65,939,787.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $237.04, for a total value of $1,883,993.92. Following the transaction, the director now owns 278,180 shares in the company, valued at approximately $65,939,787.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the firm's stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 128,957 shares of the company's stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,662 shares of company stock valued at $44,653,051. 38.55% of the stock is currently owned by corporate insiders.

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.