Hardman Johnston Global Advisors LLC Lowers Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Hardman Johnston Global Advisors LLC reduced its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 523,928 shares of the technology company's stock after selling 20,923 shares during the period. Atlassian comprises approximately 3.3% of Hardman Johnston Global Advisors LLC's investment portfolio, making the stock its 7th largest position. Hardman Johnston Global Advisors LLC owned 0.20% of Atlassian worth $83,205,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Financial Advocates Investment Management boosted its stake in shares of Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company's stock valued at $662,000 after purchasing an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company's stock valued at $890,000 after buying an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company's stock valued at $544,000 after buying an additional 70 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company's stock valued at $775,000 after buying an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 buying an additional 96 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company's stock, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The transaction 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 Atlassian stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the sale, the director now directly owns 309,972 shares in the company, valued at $67,905,566.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. 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 237,269 shares of company stock valued at $42,006,228 in the last three months. 38.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Atlassian from $177.00 to $255.00 and gave the company a "market perform" rating in a report on Friday, November 1st. Barclays lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Monday, August 5th. Morgan Stanley raised their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Capital One Financial upgraded shares of Atlassian from an "equal weight" rating to an "overweight" rating and set a $211.00 price target for the company in a report on Thursday, July 11th. Finally, Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $243.16.

Atlassian Stock Up 1.8 %

TEAM traded up $3.99 during mid-day trading on Wednesday, reaching $225.57. 2,422,552 shares of the stock were exchanged, compared to its average volume of 1,840,976. 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 market capitalization of $58.65 billion, a PE ratio of -148.40 and a beta of 0.71. The company has a 50 day moving average price of $176.79 and a two-hundred day moving average price of $171.90. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) EPS. As a group, research analysts anticipate that Atlassian Co. will post -0.58 EPS 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.