Atlassian Co. (NASDAQ:TEAM) Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,661 shares of the technology company’s stock after selling 612 shares during the period. Coldstream Capital Management Inc.’s holdings in Atlassian were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management increased its stake in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after buying an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares in the last quarter. Commerce Bank raised its holdings in shares of Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after acquiring an additional 90 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the subject of a number of recent research reports. Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group upped their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Oppenheimer boosted their price target on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group raised their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.50.

Atlassian Stock Performance

NASDAQ:TEAM opened at $278.65 on Friday. The firm’s fifty day simple moving average is $229.09 and its 200 day simple moving average is $186.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations 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) earnings per share. As a group, research analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 165 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44. Following the completion of the transaction, the chief executive officer now directly owns 79,480 shares of the company’s stock, valued at $13,116,584.40. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,590 shares of company stock valued at $58,284,749 over the last 90 days. 38.55% of the stock is owned by corporate insiders.

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.