Strengthening Families & Communities LLC Sells 4,841 Shares of Atlassian Co. (NASDAQ:TEAM)

Strengthening Families & Communities LLC lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 91.6% during the third quarter, Holdings Channel reports. The institutional investor owned 442 shares of the technology company’s stock after selling 4,841 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Atlassian were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its position in shares of Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after acquiring an additional 520 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares in the last quarter. International Assets Investment Management LLC bought a new position in Atlassian in the 3rd quarter worth about $97,350,000. Aigen Investment Management LP purchased a new position in Atlassian during the 3rd quarter valued at about $2,232,000. Finally, National Pension Service boosted its position in shares of Atlassian by 8.4% in the third quarter. National Pension Service now owns 296,066 shares of the technology company’s stock valued at $47,018,000 after acquiring an additional 22,883 shares during the period. Institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $238.69 on Tuesday. The stock’s 50 day simple moving average is $187.95 and its 200 day simple moving average is $174.61. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEAM. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. JMP Securities upgraded Atlassian to a “hold” rating in a research report on Friday, August 2nd. UBS Group raised their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. BMO Capital Markets lifted their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Scotiabank increased their price target on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the sale, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,248 shares of company stock worth $45,553,294 over the last quarter. Company insiders own 38.55% of the company’s stock.

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.