Atlassian Co. (NASDAQ:TEAM) Stake Reduced by CENTRAL TRUST Co

CENTRAL TRUST Co trimmed its stake in Atlassian Co. (NASDAQ:TEAM) by 81.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,204 shares of the technology company’s stock after selling 5,148 shares during the quarter. CENTRAL TRUST Co’s holdings in Atlassian were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TEAM. Hennion & Walsh Asset Management Inc. increased its stake in shares of Atlassian by 36.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,869 shares of the technology company’s stock valued at $297,000 after purchasing an additional 500 shares during the period. International Assets Investment Management LLC acquired a new stake in Atlassian in the 3rd quarter valued at approximately $97,350,000. Stanley Laman Group Ltd. acquired a new stake in Atlassian in the 3rd quarter valued at approximately $6,046,000. Eastern Bank bought a new stake in Atlassian during the 3rd quarter valued at $217,000. Finally, Signaturefd LLC boosted its position in Atlassian by 4.8% during the 3rd quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after acquiring an additional 111 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TEAM shares. Scotiabank lowered their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Canaccord Genuity Group upped their price target on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.47.

Atlassian Price Performance

TEAM stock opened at $188.73 on Monday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The firm has a 50-day moving average of $169.41 and a two-hundred day moving average of $171.50. The firm 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 quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned ($0.21) EPS. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. On average, analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $177.07, for a total transaction of $1,407,352.36. Following the transaction, the chief executive officer now directly owns 333,816 shares of the company’s stock, valued at approximately $59,108,799.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction 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 directly owns 333,816 shares of the company’s stock, valued at approximately $59,108,799.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,237 shares of company stock valued at $37,175,417 over the last quarter. Company insiders own 40.48% of the company’s stock.

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.