Captrust Financial Advisors Decreases Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Captrust Financial Advisors lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 37.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,073 shares of the technology company’s stock after selling 7,693 shares during the period. Captrust Financial Advisors’ holdings in Atlassian were worth $2,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TEAM. Sequoia Financial Advisors LLC boosted its position in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. Parnassus Investments LLC grew its holdings in Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after buying an additional 245,286 shares during the period. International Assets Investment Management LLC acquired a new position in Atlassian in the third quarter valued at $97,350,000. Finally, Aigen Investment Management LP purchased a new stake in Atlassian during the third quarter worth approximately $2,232,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Down 3.7 %

Atlassian stock opened at $276.72 on Friday. The firm’s 50-day simple moving average is $215.54 and its 200 day simple moving average is $182.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The stock has a market cap of $72.07 billion, a PE ratio of -182.05 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Research analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $163.82, for a total transaction of $1,302,041.36. Following the transaction, the director now directly owns 119,220 shares of the company’s stock, valued at approximately $19,530,620.40. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated 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 owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 260,694 shares of company stock valued at $53,019,040 in the last three months. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TEAM shares. BMO Capital Markets increased their price objective on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price target on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Mizuho raised their price objective on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.74.

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.