Jamison Private Wealth Management Inc. Trims Stock Position in Atlassian Co. (NASDAQ:TEAM)

Jamison Private Wealth Management Inc. decreased its position in Atlassian Co. (NASDAQ:TEAM) by 27.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 200 shares of the technology company’s stock after selling 76 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Atlassian were worth $32,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Asset Dedication LLC raised its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Hollencrest Capital Management increased its position in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at approximately $36,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $189.35 on Thursday. The company has a market cap of $49.24 billion, a P/E ratio of -163.23 and a beta of 0.73. The firm has a fifty day moving average price of $162.91 and a 200 day moving average price of $171.79. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm posted ($0.21) EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on TEAM shares. BMO Capital Markets dropped their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Mizuho cut their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $216.29.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68. Following the completion of the sale, the chief executive officer now owns 397,400 shares in the company, valued at approximately $69,906,634. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $175.91, for a total value of $1,398,132.68. Following the transaction, the chief executive officer now directly owns 397,400 shares in the company, valued at approximately $69,906,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,185 shares of company stock worth $38,079,593 over the last three months. Insiders own 40.48% of the company’s stock.

Atlassian 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.