Atlassian Co. (NASDAQ:TEAM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,802 shares of the technology company’s stock after selling 12,841 shares during the quarter. Victory Capital Management Inc.’s holdings in Atlassian were worth $27,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Brighton Jones LLC purchased a new position in shares of Atlassian during the fourth quarter worth about $210,000. Choreo LLC increased its position in Atlassian by 2.1% during the fourth quarter. Choreo LLC now owns 8,764 shares of the technology company’s stock worth $2,085,000 after buying an additional 180 shares during the period. Eagle Wealth Strategies LLC purchased a new stake in Atlassian in the fourth quarter valued at approximately $490,000. Russell Investments Group Ltd. lifted its stake in Atlassian by 6.6% in the fourth quarter. Russell Investments Group Ltd. now owns 195,612 shares of the technology company’s stock valued at $46,686,000 after buying an additional 12,084 shares during the last quarter. Finally, K.J. Harrison & Partners Inc acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $1,308,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 1.3 %

Atlassian stock opened at $184.12 on Wednesday. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The firm has a market capitalization of $47.93 billion, a price-to-earnings ratio of -292.25 and a beta of 0.67. The stock’s fifty day moving average is $196.34 and its two-hundred day moving average is $205.97. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned ($0.40) EPS. Atlassian’s revenue for the quarter was up 29.9% on a year-over-year basis. Analysts predict that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total value of $1,799,175.12. Following the completion of the sale, the chief executive officer now owns 263,712 shares in the company, valued at approximately $57,573,603.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, April 19th. The stock was sold at an average price of $193.63, for a total value of $147,158.80. Following the transaction, the president now owns 162,610 shares in the company, valued at $31,486,174.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total value of $1,799,175.12. Following the sale, the chief executive officer now directly owns 263,712 shares of the company’s stock, valued at approximately $57,573,603.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,691 shares of company stock worth $61,400,649. 40.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company boosted their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Citigroup lowered their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, UBS Group cut their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

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.