Atlassian Co. (NASDAQ:TEAM) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 81,366 shares of the technology company’s stock after selling 2,037 shares during the period. Capital Group Private Client Services Inc.’s holdings in Atlassian were worth $15,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arkadios Wealth Advisors acquired a new position in Atlassian during the fourth quarter worth about $202,000. Vanguard Group Inc. grew its position in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Diversified Trust Co grew its position in shares of Atlassian by 27.6% in the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after purchasing an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $13,805,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TEAM shares. Oppenheimer lowered their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company lowered their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Morgan Stanley reduced their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Truist Financial reduced their price objective on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Citigroup reduced their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.81.

Insiders Place Their Bets

In related news, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the transaction, the chief accounting officer now owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, July 5th. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the transaction, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at $88,928,582.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the transaction, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The disclosure for this sale can be found here. Insiders have sold a total of 276,164 shares of company stock valued at $47,848,092 in the last 90 days. 40.48% of the stock is currently owned by insiders.

Atlassian Stock Performance

Atlassian stock traded down $0.90 during mid-day trading on Friday, reaching $177.32. The company had a trading volume of 1,314,142 shares, compared to its average volume of 1,708,059. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 52 week low of $152.34 and a 52 week high of $258.69. The company has a 50 day moving average of $170.24 and a 200-day moving average of $194.60. The firm has a market cap of $46.16 billion, a price-to-earnings ratio of -278.41 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, sell-side analysts expect that Atlassian Co. will post -0.22 EPS for the current fiscal year.

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.