Raymond James Financial Services Advisors Inc. lessened its position in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,608 shares of the technology company’s stock after selling 2,020 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Atlassian were worth $2,158,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the company. Vontobel Holding Ltd. bought a new position in Atlassian during the 1st quarter worth approximately $1,180,000. Gulf International Bank UK Ltd bought a new stake in shares of Atlassian in the 1st quarter worth approximately $3,380,000. UMB Bank n.a. bought a new stake in shares of Atlassian in the 1st quarter worth approximately $169,000. BMS Financial Advisors LLC lifted its holdings in shares of Atlassian by 16.4% in the 1st quarter. BMS Financial Advisors LLC now owns 3,558 shares of the technology company’s stock worth $609,000 after purchasing an additional 500 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Atlassian by 4.5% in the 1st quarter. Diversified Trust Co now owns 11,289 shares of the technology company’s stock worth $1,932,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 53.17% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on TEAM shares. StockNews.com started coverage on Atlassian in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays lowered their target price on Atlassian from $155.00 to $130.00 in a research report on Sunday, May 7th. Robert W. Baird lowered their target price on Atlassian from $190.00 to $175.00 in a research report on Friday, May 5th. Piper Sandler raised their target price on Atlassian from $140.00 to $170.00 in a research report on Friday, June 9th. Finally, Mizuho lowered their target price on Atlassian from $235.00 to $215.00 in a research report on Friday, May 5th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.85.
Insider Buying and Selling
In other news, Director Enrique T. Salem sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the sale, the director now owns 124,162 shares of the company’s stock, valued at $16,141,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Scott Farquhar sold 8,614 shares of the firm’s stock in a transaction on Friday, April 14th. The stock was sold at an average price of $163.71, for a total value of $1,410,197.94. Following the completion of the sale, the chief executive officer now owns 450,200 shares of the company’s stock, valued at $73,702,242. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Enrique T. Salem sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the sale, the director now directly owns 124,162 shares of the company’s stock, valued at approximately $16,141,060. The disclosure for this sale can be found here. Insiders have sold 328,176 shares of company stock worth $52,031,614 in the last three months. 43.11% of the stock is currently owned by insiders.
Atlassian Stock Performance
Shares of NASDAQ TEAM opened at $169.45 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $43.55 billion, a price-to-earnings ratio of -81.86 and a beta of 0.76. The stock’s fifty day simple moving average is $161.94 and its 200 day simple moving average is $158.43. Atlassian Co. has a 52-week low of $113.86 and a 52-week high of $300.29.
Atlassian (NASDAQ:TEAM – Free Report) last issued its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). The company had revenue of $915.45 million during the quarter, compared to analyst estimates of $898.71 million. Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. As a group, sell-side analysts forecast that Atlassian Co. will post -0.8 earnings per share for the current fiscal year.
Atlassian Company Profile
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.