Atlassian Co. (NASDAQ:TEAM) Shares Sold by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 523,928 shares of the technology company’s stock after selling 20,923 shares during the quarter. Atlassian comprises about 3.3% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 7th biggest position. Hardman Johnston Global Advisors LLC’s holdings in Atlassian were worth $83,205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Asset Dedication LLC lifted its stake in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Trust Co. of Vermont increased its stake in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian in the 2nd quarter valued at $36,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian during the 1st quarter valued at $40,000. Finally, Crewe Advisors LLC bought a new position in Atlassian during the first quarter worth $43,000. Institutional investors own 93.03% of the company’s stock.

Insider Activity

In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now owns 182,804 shares of the company’s stock, valued at approximately $30,127,927.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the completion of the sale, the chief executive officer now owns 182,804 shares of the company’s stock, valued at approximately $30,127,927.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 237,269 shares of company stock valued at $42,006,228 over the last quarter. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Up 1.2 %

Shares of NASDAQ TEAM opened at $221.58 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a fifty day simple moving average of $175.52 and a two-hundred day simple moving average of $171.52. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEAM. Barclays dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a report on Friday, November 1st. Morgan Stanley boosted their price objective on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. UBS Group upped their target price on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank lifted their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.16.

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.