Mount Yale Investment Advisors LLC Sells 5,653 Shares of Atlassian Co. (NASDAQ:TEAM)

Mount Yale Investment Advisors LLC trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 45.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,910 shares of the technology company’s stock after selling 5,653 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Atlassian were worth $1,097,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Atlassian by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.8% during the 1st 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 purchasing an additional 904,138 shares in the last quarter. Dragoneer Investment Group LLC acquired a new position in Atlassian during the second quarter worth $469,803,000. Capital International Investors lifted its stake in shares of Atlassian by 6.3% in the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after buying an additional 144,117 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Atlassian by 6.7% during the first quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after buying an additional 130,253 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TEAM shares. UBS Group upped their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Oppenheimer reissued an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a research report on Monday, September 23rd. BMO Capital Markets cut their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Finally, JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $212.47.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36. Following the sale, the chief executive officer now owns 333,816 shares of the company’s stock, valued at $59,108,799.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $177.07, for a total value of $1,407,352.36. Following the completion of the transaction, the chief executive officer now directly owns 333,816 shares of the company’s stock, valued at $59,108,799.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’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 sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock valued at $38,597,791 over the last three months. 40.48% of the stock is currently owned by insiders.

Atlassian Trading Down 0.3 %

NASDAQ:TEAM opened at $188.73 on Friday. The firm’s 50 day moving average is $169.41 and its 200 day moving average is $171.72. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The stock has a market capitalization of $49.13 billion, a PE ratio of -299.57 and a beta of 0.73. The company has a current ratio of 1.18, a quick 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, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) earnings per share. Sell-side analysts expect that Atlassian Co. will post -0.58 earnings per share 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.