Victory Capital Management Inc. Trims Position in Atlassian Co. (NASDAQ:TEAM)

Victory Capital Management Inc. trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,226 shares of the technology company’s stock after selling 13,611 shares during the quarter. Victory Capital Management Inc.’s holdings in Atlassian were worth $18,775,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TEAM. Ameritas Investment Partners Inc. increased its holdings in shares of Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after purchasing an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Atlassian by 33.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company’s stock valued at $820,000 after purchasing an additional 1,062 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Atlassian by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock valued at $429,000 after purchasing an additional 1,100 shares in the last quarter. Natixis increased its holdings in shares of Atlassian by 15,995.8% during the 1st quarter. Natixis now owns 133,112 shares of the technology company’s stock valued at $25,971,000 after purchasing an additional 132,285 shares in the last quarter. Finally, Boulder Hill Capital Management LP purchased a new position in shares of Atlassian during the 1st quarter valued at approximately $5,073,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Down 0.6 %

Shares of TEAM opened at $238.69 on Tuesday. The firm has a market cap of $62.16 billion, a P/E ratio of -157.03 and a beta of 0.71. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company’s 50-day moving average price is $187.95 and its 200 day moving average price is $174.61. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, sell-side analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’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 sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 785 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00. Following the sale, the chief accounting officer now owns 57,938 shares in the company, valued at $13,905,120. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,248 shares of company stock worth $45,553,294 over the last three months. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TEAM. Oppenheimer lifted their target price on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group lifted their price target 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. Jefferies Financial Group lifted their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research note on Friday, November 1st. Finally, Mizuho lifted their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

About Atlassian

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.