Integrated Wealth Concepts LLC Trims Position in Atlassian Co. (NASDAQ:TEAM)

Integrated Wealth Concepts LLC lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,278 shares of the technology company’s stock after selling 814 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Atlassian were worth $1,950,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Investment Management Corp of Ontario increased its position in Atlassian by 50.8% in the third quarter. Investment Management Corp of Ontario now owns 5,341 shares of the technology company’s stock worth $848,000 after buying an additional 1,800 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Atlassian by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,182,373 shares of the technology company’s stock worth $187,773,000 after buying an additional 22,936 shares in the last quarter. Janus Henderson Group PLC increased its position in Atlassian by 4.2% in the third quarter. Janus Henderson Group PLC now owns 15,550 shares of the technology company’s stock worth $2,469,000 after buying an additional 624 shares in the last quarter. Bamco Inc. NY increased its position in Atlassian by 242.7% in the third quarter. Bamco Inc. NY now owns 124,018 shares of the technology company’s stock worth $19,695,000 after buying an additional 87,834 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Atlassian in the third quarter worth about $1,588,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEAM. Scotiabank upped their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Oppenheimer increased their target price on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets increased their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.74.

Insider Transactions at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction 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 transaction, the president now owns 143,966 shares in the company, valued at $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. Over the last three months, insiders have sold 268,642 shares of company stock worth $55,234,863. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $278.50 on Friday. The firm has a market capitalization of $72.53 billion, a price-to-earnings ratio of -183.22 and a beta of 0.80. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97. The business has a 50 day simple moving average of $217.88 and a 200-day simple moving average of $183.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts forecast that Atlassian Co. will post -0.54 EPS for the current year.

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.