Vanguard Personalized Indexing Management LLC lessened its holdings in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 51.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,270 shares of the technology company’s stock after selling 5,520 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Atlassian were worth $678,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of TEAM. Guinness Atkinson Asset Management Inc acquired a new stake in Atlassian in the 4th quarter worth approximately $30,000. Sonnipe Ltd acquired a new stake in shares of Atlassian during the fourth quarter worth $36,000. Huntington National Bank grew its holdings in shares of Atlassian by 64.4% during the third quarter. Huntington National Bank now owns 286 shares of the technology company’s stock valued at $60,000 after buying an additional 112 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at $42,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Atlassian by 155.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 330 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 45.50% of the company’s stock.
Insider Activity at Atlassian
In other news, President Anutthara Bharadwaj sold 4,699 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the completion of the sale, the president now owns 213,479 shares of the company’s stock, valued at $30,427,161.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Enrique T. Salem sold 10,000 shares of Atlassian stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the transaction, the director now owns 124,162 shares in the company, valued at $16,141,060. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 4,699 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $142.53, for a total value of $669,748.47. Following the transaction, the president now directly owns 213,479 shares in the company, valued at approximately $30,427,161.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,112 shares of company stock valued at $48,192,808. 43.11% of the stock is owned by insiders.
Atlassian Stock Performance
Atlassian (NASDAQ:TEAM – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.15). The firm had revenue of $915.45 million for the quarter, compared to analysts’ expectations of $898.71 million. Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. Equities analysts anticipate that Atlassian Co. will post -0.83 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
TEAM has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Atlassian from a “buy” rating to a “neutral” rating and dropped their price target for the company from $240.00 to $165.00 in a research note on Friday, May 5th. Mizuho cut their price target on shares of Atlassian from $235.00 to $215.00 in a report on Friday, May 5th. Robert W. Baird dropped their price objective on shares of Atlassian from $190.00 to $175.00 in a report on Friday, May 5th. Barclays reduced their target price on shares of Atlassian from $155.00 to $130.00 in a report on Sunday, May 7th. Finally, BMO Capital Markets cut their price target on Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.74.
Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.
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