Atlassian Co. (NASDAQ:TEAM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 10.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,226 shares of the technology company's stock after selling 13,611 shares during the quarter. Victory Capital Management Inc.'s holdings in Atlassian were worth $18,775,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TEAM. Price T Rowe Associates Inc. MD increased its holdings in Atlassian by 8.8% in 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 during the last quarter. Baillie Gifford & Co. grew its position in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian during the second quarter worth about $469,803,000. Capital International Investors boosted its stake in shares of Atlassian by 6.3% in the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company's stock valued at $475,399,000 after purchasing an additional 144,117 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Atlassian by 5.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,124,544 shares of the technology company's stock worth $219,410,000 after buying an additional 58,991 shares during the period. Institutional investors and hedge funds own 93.03% of the company's stock.

Atlassian Stock Performance

Shares of Atlassian stock traded up $9.04 on Tuesday, reaching $247.73. 2,644,841 shares of the stock were exchanged, compared to its average volume of 1,869,785. The firm has a market capitalization of $64.52 billion, a PE 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 business has a fifty day moving average price of $189.47 and a two-hundred day moving average price of $175.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results 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. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business 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 business posted ($0.07) EPS. The company's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on TEAM shares. Baird R W lowered Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 2nd. Barclays lowered their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Monday, August 5th. Jefferies Financial Group lifted their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Mizuho increased their price objective on shares of Atlassian from $200.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Truist Financial boosted their target price on shares of Atlassian from $160.00 to $200.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $244.21.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 785 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,938 shares in the company, valued at approximately $13,905,120. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12. Following the transaction, the chief executive officer now owns 230,492 shares of the company's stock, valued at $55,131,381.48. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,196 shares of company stock valued at $47,454,376. 38.55% of the stock is owned by company insiders.

About Atlassian

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.