Mediolanum International Funds Ltd Sells 1,732 Shares of Atlassian Co. (NASDAQ:TEAM)

Mediolanum International Funds Ltd reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,745 shares of the technology company’s stock after selling 1,732 shares during the period. Mediolanum International Funds Ltd’s holdings in Atlassian were worth $3,500,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co increased its position in shares of Atlassian by 27.6% in the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after purchasing an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Atlassian by 7.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Atlassian by 2.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Atlassian in the 2nd quarter worth $12,846,000. Finally, Burney Co. purchased a new position in shares of Atlassian in the first quarter worth about $1,095,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 0.3 %

Shares of TEAM stock opened at $188.73 on Friday. 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 Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The stock’s 50-day moving average price is $169.41 and its 200-day moving average price is $171.50. The stock has a market capitalization of $49.13 billion, a price-to-earnings ratio of -299.57 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted ($0.21) EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TEAM shares. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. 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 research report on Tuesday, October 22nd. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.47.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the transaction, the director now directly owns 151,012 shares in the company, valued at approximately $24,737,275.72. 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 230,185 shares of company stock worth $38,597,791 over the last quarter. Insiders own 40.48% of the company’s stock.

Atlassian 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.