Lyell Wealth Management LP Sells 1,583 Shares of Atlassian Co. (NASDAQ:TEAM)

Lyell Wealth Management LP decreased its stake in Atlassian Co. (NASDAQ:TEAM) by 11.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,651 shares of the technology company’s stock after selling 1,583 shares during the period. Lyell Wealth Management LP’s holdings in Atlassian were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Asset Dedication LLC increased its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Hollencrest Capital Management increased its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new position in shares of Atlassian during the 2nd quarter valued at $36,000. Finally, GAMMA Investing LLC boosted its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the period. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Tuesday, October 1st. Oppenheimer reissued an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Barclays lowered their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.47.

Atlassian Stock Performance

NASDAQ TEAM opened at $188.73 on Friday. The company has a market cap of $49.13 billion, a P/E ratio of -299.57 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50 day moving average price is $169.41 and its 200-day moving average price is $171.72. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

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

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $83,134,490.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $83,134,490.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,185 shares of company stock valued at $38,597,791. 40.48% of the stock is currently owned by insiders.

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.