Atlassian Co. (NASDAQ:TEAM) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 8.6% during the third quarter, Holdings Channel reports. The firm owned 42,422 shares of the technology company’s stock after selling 4,002 shares during the period. Motley Fool Wealth Management LLC’s holdings in Atlassian were worth $6,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $469,803,000. Manning & Napier Advisors LLC purchased a new stake in Atlassian during the second quarter valued at about $91,072,000. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian in the third quarter worth about $57,149,000. Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after acquiring an additional 245,286 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Atlassian by 657.5% during the second quarter. Assenagon Asset Management S.A. now owns 239,509 shares of the technology company’s stock valued at $42,364,000 after acquiring an additional 207,891 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Performance

TEAM stock opened at $268.36 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $69.89 billion, a price-to-earnings ratio of -176.55 and a beta of 0.80. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40. The firm has a 50 day moving average of $210.75 and a two-hundred day moving average of $181.01.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, equities analysts anticipate that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TEAM shares. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a report on Friday, November 1st. Scotiabank boosted their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Raymond James boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $244.21.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the company’s 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 completion of the sale, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This represents 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 company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the sale, the director now directly owns 158,960 shares of the company’s stock, valued at approximately $42,277,001.60. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,642 shares of company stock valued at $53,473,430 over the last ninety days. Corporate insiders own 38.55% 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.