Atlassian Co. (NASDAQ:TEAM) Position Trimmed by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 91.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 442 shares of the technology company's stock after selling 4,841 shares during the period. Strengthening Families & Communities LLC's holdings in Atlassian were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its stake 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 purchasing an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Atlassian by 33.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company's stock worth $820,000 after buying an additional 1,062 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in Atlassian by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company's stock valued at $429,000 after acquiring an additional 1,100 shares during the last quarter. Natixis raised its position in shares of Atlassian by 15,995.8% during the 1st quarter. Natixis now owns 133,112 shares of the technology company's stock worth $25,971,000 after purchasing an additional 132,285 shares during the last quarter. Finally, Boulder Hill Capital Management LP purchased a new stake in shares of Atlassian in the first quarter valued at $5,073,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Atlassian from a "neutral" rating to a "buy" rating and raised their target price for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Oppenheimer raised their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Robert W. Baird upped their target price on Atlassian from $175.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Canaccord Genuity Group lifted their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Raymond James upped their target price on Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.21.

Atlassian Price Performance

Atlassian stock traded up $9.04 during trading hours on Tuesday, hitting $247.73. 2,644,841 shares of the company traded hands, compared to its average volume of 1,869,785. The firm's 50-day simple moving average is $189.47 and its two-hundred day simple moving average is $175.00. The firm has a market cap of $64.52 billion, a P/E ratio of -161.20 and a beta of 0.71. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the transaction, the director now owns 151,012 shares of the company's stock, valued at approximately $24,737,275.72. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,196 shares of company stock valued at $47,454,376. 38.55% of the stock is owned by insiders.

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.