US Bancorp DE lowered its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 38.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 29,167 shares of the technology company's stock after selling 18,425 shares during the period. US Bancorp DE's holdings in Atlassian were worth $4,632,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of TEAM. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian in the 2nd quarter valued at $469,803,000. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock valued at $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Atlassian during the 2nd quarter valued at $91,072,000. Quadrature Capital Ltd bought a new stake in Atlassian during the 1st quarter valued at $55,307,000. Finally, Swedbank AB bought a new stake in Atlassian during the 1st quarter valued at $50,923,000. Institutional investors own 93.03% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on TEAM. Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Jefferies Financial Group upped their price objective on shares of Atlassian from $240.00 to $280.00 and gave the company a "buy" rating in a report on Friday. Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday. Barclays reduced their price target on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. Finally, The Goldman Sachs Group raised Atlassian from a "neutral" rating to a "buy" rating and raised their price target for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average target price of $243.16.
Get Our Latest Analysis on TEAM
Atlassian Stock Performance
Shares of TEAM stock traded up $2.62 during trading hours on Tuesday, reaching $221.58. 2,934,675 shares of the company traded hands, compared to its average volume of 1,838,281. 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 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $57.62 billion, a P/E ratio of -145.78 and a beta of 0.71. The firm has a 50-day moving average price of $174.38 and a 200 day moving average price of $171.31.
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, beating analysts' consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) EPS. The business's quarterly revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $1,028,052.00. Following the sale, the president now owns 224,436 shares of the company's stock, valued at $50,599,096.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Atlassian news, Director Heather Mirjahangir Fernandez sold 1,500 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $338,175.00. Following the transaction, the director now owns 8,610 shares of the company's stock, valued at $1,941,124.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares in the company, valued at $50,599,096.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,269 shares of company stock valued at $41,382,072. Corporate insiders own 38.55% of the company's stock.
Atlassian Profile
(
Free Report)
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.
Featured Stories
Before you consider Atlassian, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atlassian wasn't on the list.
While Atlassian currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.