Angeles Investment Advisors LLC Sells 305 Shares of Atlassian Co. (NASDAQ:TEAM)

by · The Markets Daily

Angeles Investment Advisors LLC decreased its holdings in Atlassian Co. (NASDAQ:TEAM – Free Report) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,859 shares of the technology company’s stock after selling 305 shares during the period. Angeles Investment Advisors LLC’s holdings in Atlassian were worth $454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its stake in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Atlassian by 2.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the period. International Assets Investment Management LLC purchased a new position in Atlassian during the 3rd quarter valued at about $97,350,000. Finally, National Pension Service increased its position in shares of Atlassian by 8.4% during the third quarter. National Pension Service now owns 296,066 shares of the technology company’s stock valued at $47,018,000 after buying an additional 22,883 shares during the period. Institutional investors own 93.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the sale, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the completion of the transaction, the director now directly owns 270,232 shares of the company’s stock, valued at $66,163,602.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $190.00, for a total transaction of $982,680.00. Following the completion of the sale, the chief technology officer now owns 204,109 shares in the company, valued at approximately $38,780,710. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,395 shares of company stock worth $46,787,439. Company insiders own 38.55% of the company’s stock.

Atlassian Price Performance

TEAM traded up $3.02 during midday trading on Wednesday, reaching $248.30. 126,428 shares of the company’s stock traded hands, compared to its average volume of 1,847,595. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The firm has a fifty day moving average of $181.17 and a two-hundred day moving average of $172.59. 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 – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Raymond James upped their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Canaccord Genuity Group boosted their target price on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.16.

Get Our Latest Research Report on Atlassian

Atlassian Profile

(Free Report)

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.

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