Nisa Investment Advisors LLC Sells 27,162 Shares of Atlassian Co. (NASDAQ:TEAM)

Nisa Investment Advisors LLC trimmed its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 80.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,455 shares of the technology company's stock after selling 27,162 shares during the quarter. Nisa Investment Advisors LLC's holdings in Atlassian were worth $1,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TEAM. International Assets Investment Management LLC bought a new position in Atlassian in the fourth quarter valued at approximately $13,805,000. abrdn plc grew its stake in Atlassian by 120.4% in the fourth quarter. abrdn plc now owns 56,086 shares of the technology company's stock valued at $13,341,000 after purchasing an additional 30,636 shares in the last quarter. California Public Employees Retirement System grew its stake in Atlassian by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 273,583 shares of the technology company's stock valued at $65,074,000 after purchasing an additional 9,808 shares in the last quarter. GAMMA Investing LLC bought a new position in Atlassian in the fourth quarter valued at approximately $107,000. Finally, Yousif Capital Management LLC lifted its position in shares of Atlassian by 11.2% in the fourth quarter. Yousif Capital Management LLC now owns 1,561 shares of the technology company's stock valued at $371,000 after buying an additional 157 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm's stock in a transaction on Friday, June 21st. The stock was sold at an average price of $160.00, for a total transaction of $121,600.00. Following the transaction, the president now owns 153,294 shares in the company, valued at approximately $24,527,040. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, June 21st. The stock was sold at an average price of $160.00, for a total value of $121,600.00. Following the transaction, the president now owns 153,294 shares in the company, valued at approximately $24,527,040. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, July 5th. The shares were sold at an average price of $186.48, for a total value of $1,482,143.04. Following the completion of the transaction, the chief executive officer now owns 476,880 shares in the company, valued at approximately $88,928,582.40. The disclosure for this sale can be found here. Insiders have sold a total of 256,934 shares of company stock worth $42,788,808 in the last 90 days. Company insiders own 40.48% of the company's stock.

Atlassian Price Performance

Atlassian stock traded up $4.13 during mid-day trading on Friday, reaching $160.00. 1,307,693 shares of the company were exchanged, compared to its average volume of 1,794,083. The company has a fifty day simple moving average of $165.50 and a 200-day simple moving average of $181.90. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $41.65 billion, a PE ratio of -253.97 and a beta of 0.74.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned ($0.21) EPS. The company's revenue was up 20.5% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Co. will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on Atlassian from $220.00 to $177.00 and set a "market perform" rating for the company in a research report on Friday, August 2nd. Baird R W cut Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a "neutral" rating to a "buy" rating and raised their price objective for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Capital One Financial raised Atlassian from an "equal weight" rating to an "overweight" rating and set a $211.00 price objective for the company in a research report on Thursday, July 11th. Finally, TD Cowen cut their price objective on Atlassian from $220.00 to $210.00 and set a "hold" rating for the company in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $217.69.

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.