Stonegate Investment Group LLC Sells 1,019 Shares of Atlassian Co. (NASDAQ:TEAM)

Stonegate Investment Group LLC cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 25.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the technology company’s stock after selling 1,019 shares during the period. Stonegate Investment Group LLC’s holdings in Atlassian were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. Dragoneer Investment Group LLC bought a new position in shares of Atlassian during the 2nd quarter worth about $469,803,000. Price T Rowe Associates Inc. MD grew its stake in Atlassian by 8.8% in the first 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 acquiring an additional 904,138 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian during the second quarter valued at approximately $91,072,000. Quadrature Capital Ltd acquired a new position in shares of Atlassian during the first quarter worth approximately $55,307,000. Finally, Swedbank AB bought a new position in shares of Atlassian in the 1st quarter worth $50,923,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Tuesday, October 1st. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research note on Thursday, July 11th. Scotiabank lowered their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and cut their target price for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $215.12.

Atlassian Price Performance

TEAM stock opened at $191.70 on Friday. The firm has a 50 day simple moving average of $164.91 and a two-hundred day simple moving average of $171.89. The stock has a market cap of $49.85 billion, a PE ratio of -165.26 and a beta of 0.73. Atlassian Co. has a one year low of $135.29 and a one year 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.

Atlassian (NASDAQ:TEAM) last announced its earnings results 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 net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned ($0.21) earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $178.96, for a total value of $1,422,374.08. Following the transaction, the chief executive officer now owns 349,712 shares in the company, valued at approximately $62,584,459.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 229,425 shares of company stock worth $38,058,262. 40.48% of the stock is currently owned by corporate 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.