One Wealth Advisors LLC Cuts Holdings in Atlassian Co. (NASDAQ:TEAM)

One Wealth Advisors LLC reduced its position in Atlassian Co. (NASDAQ:TEAM) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,430 shares of the technology company’s stock after selling 100 shares during the quarter. One Wealth Advisors LLC’s holdings in Atlassian were worth $545,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TEAM. Dragoneer Investment Group LLC purchased a new stake in Atlassian during the 2nd quarter worth $469,803,000. Price T Rowe Associates Inc. MD raised its holdings 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 in the last quarter. Manning & Napier Advisors LLC bought a new position in Atlassian during the 2nd quarter valued at $91,072,000. Quadrature Capital Ltd acquired a new stake in shares of Atlassian in the 1st quarter valued at about $55,307,000. Finally, Swedbank AB bought a new position in shares of Atlassian during the first quarter worth about $50,923,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM traded down $2.24 during trading hours on Thursday, reaching $187.11. 146,476 shares of the company’s stock were exchanged, compared to its average volume of 1,781,943. The company has a market capitalization of $48.65 billion, a P/E ratio of -163.23 and a beta of 0.73. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The business’s 50-day simple moving average is $162.91 and its two-hundred day simple moving average is $171.79. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted ($0.21) EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TEAM shares. Raymond James raised 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. Barclays reduced their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a research note on Thursday, July 11th. Mizuho raised their price target on shares of Atlassian from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $215.12.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68. Following the transaction, the chief executive officer now directly owns 397,400 shares in the company, valued at approximately $69,906,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $175.91, for a total transaction of $1,398,132.68. Following the completion of the sale, the chief executive officer now directly owns 397,400 shares of the company’s stock, valued at $69,906,634. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $190.00, for a total value of $982,680.00. Following the sale, the chief technology officer now owns 204,109 shares of the company’s stock, valued at approximately $38,780,710. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,185 shares of company stock valued at $38,079,593. 40.48% of the stock is currently owned by corporate insiders.

About Atlassian

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.