Atlassian Co. (NASDAQ:TEAM) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 25.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230 shares of the technology company’s stock after selling 80 shares during the period. First Horizon Advisors Inc.’s holdings in Atlassian were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Lazard Asset Management LLC raised its position in Atlassian by 1,089.4% during the 1st quarter. Lazard Asset Management LLC now owns 35,764 shares of the technology company’s stock worth $6,976,000 after buying an additional 32,757 shares during the last quarter. BOKF NA raised its holdings in shares of Atlassian by 15.7% during the first quarter. BOKF NA now owns 7,047 shares of the technology company’s stock worth $1,363,000 after purchasing an additional 955 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Atlassian by 72.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,998 shares of the technology company’s stock valued at $604,000 after purchasing an additional 1,257 shares during the period. Tidal Investments LLC grew its position in Atlassian by 10.0% during the 1st quarter. Tidal Investments LLC now owns 4,085 shares of the technology company’s stock worth $797,000 after purchasing an additional 373 shares during the period. Finally, SkyView Investment Advisors LLC raised its stake in shares of 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 buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TEAM shares. Morgan Stanley boosted their price target on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Jefferies Financial Group raised 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, Truist Financial increased their price objective on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Atlassian Stock Performance

NASDAQ TEAM opened at $261.00 on Tuesday. The stock has a market cap of $67.97 billion, a PE ratio of -171.71 and a beta of 0.71. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40. The stock has a fifty day simple moving average of $196.47 and a 200-day simple moving average of $176.97. 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 announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the sale, the president now directly owns 213,511 shares of the company’s stock, valued at $52,483,138.91. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28. Following the completion of the transaction, the chief executive officer now directly owns 158,960 shares of the company’s stock, valued at $26,444,585.60. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,746 shares of company stock valued at $47,702,864 over the last quarter. 38.55% of the stock is owned by company 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.