Avior Wealth Management LLC Trims Position in Atlassian Co. (NASDAQ:TEAM)

Avior Wealth Management LLC lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 39.7% during the 3rd quarter, Holdings Channel reports. The fund owned 304 shares of the technology company’s stock after selling 200 shares during the quarter. Avior Wealth Management LLC’s holdings in Atlassian were worth $48,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian during the 2nd quarter worth about $36,000. GAMMA Investing LLC increased its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88. Following the transaction, the chief executive officer now owns 182,804 shares in the company, valued at $30,127,927.24. The trade was a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $190.00, for a total value of $982,680.00. Following the completion of the transaction, the chief technology officer now owns 204,109 shares in the company, valued at $38,780,710. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock valued at $49,012,774 over the last three months. Company insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $260.58 on Monday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $262.00. The company has a market capitalization of $67.86 billion, a price-to-earnings ratio of -171.43 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The business has a 50 day simple moving average of $196.47 and a 200-day simple moving average of $176.98.

Atlassian (NASDAQ:TEAM) last announced 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 during 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 quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, equities research analysts expect that Atlassian Co. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TEAM. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. BMO Capital Markets lifted their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their target price on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.