Oppenheimer Asset Management Inc. Sells 5,679 Shares of Atlassian Co. (NASDAQ:TEAM)

Oppenheimer Asset Management Inc. lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,190 shares of the technology company’s stock after selling 5,679 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Atlassian were worth $5,589,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC lifted its holdings 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 boosted its position 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 worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian during the second quarter worth $36,000. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 96 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Atlassian during the first quarter worth about $43,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Down 1.1 %

TEAM stock opened at $249.99 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50 day moving average price of $184.61 and a two-hundred day moving average price of $173.61.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. On average, sell-side analysts predict that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent analyst reports. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Mizuho increased their target price on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The stock was 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 in the company, valued at approximately $23,482,294.26. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the sale, the chief executive officer now owns 214,596 shares of the company’s stock, valued at approximately $33,674,404.32. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,248 shares of company stock worth $45,553,294. Insiders own 38.55% of the company’s stock.

About Atlassian

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.