STF Management LP Sells 333 Shares of Atlassian Co. (NASDAQ:TEAM)

STF Management LP decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,192 shares of the technology company’s stock after selling 333 shares during the quarter. STF Management LP’s holdings in Atlassian were worth $348,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Advocates Investment Management boosted its stake in Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares during the period. SkyView Investment Advisors LLC boosted its stake in Atlassian by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares during the period. Commerce Bank raised its holdings in Atlassian by 1.8% in the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88. Following the sale, the chief executive officer now owns 500,724 shares of the company’s stock, valued at $80,020,702.44. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 257,694 shares of company stock valued at $49,012,774. 38.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TEAM has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Mizuho upped their price target on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Raymond James upped their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Barclays dropped their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Stock Up 3.4 %

NASDAQ:TEAM opened at $253.91 on Friday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $66.13 billion, a P/E ratio of -167.05 and a beta of 0.71. The stock’s fifty day simple moving average is $192.77 and its 200-day simple moving average is $175.94.

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

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.