STF Management LP Sells 122 Shares of Atlassian Co. (NASDAQ:TEAM)

STF Management LP trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 4.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,525 shares of the technology company’s stock after selling 122 shares during the quarter. STF Management LP’s holdings in Atlassian were worth $447,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after purchasing an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Capital International Investors increased its stake in Atlassian by 6.3% during the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares in the last quarter. Clearbridge Investments LLC increased its stake in Atlassian by 6.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after purchasing an additional 130,253 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Atlassian by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,576,176 shares of the technology company’s stock worth $374,909,000 after purchasing an additional 32,174 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Atlassian Stock Up 0.9 %

TEAM opened at $165.15 on Tuesday. 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 1-year low of $135.29 and a 1-year high of $258.69. The stock has a market cap of $42.99 billion, a PE ratio of -262.14 and a beta of 0.73. The stock’s fifty day simple moving average is $163.38 and its 200 day simple moving average is $176.42.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) earnings per share. As a group, research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of research reports. Oppenheimer lowered their target price on Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. Scotiabank reduced their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $217.69.

Insider Activity at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the sale, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the sale, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The disclosure for this sale can be found here. Insiders have sold 232,211 shares of company stock valued at $38,944,173 over the last ninety days. 40.48% of the stock is owned by corporate insiders.

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.