Atlassian Co. (NASDAQ:TEAM) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,529 shares of the technology company’s stock after selling 2,084 shares during the period. Amalgamated Bank’s holdings in Atlassian were worth $3,932,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of Atlassian during the fourth quarter worth $202,000. American Century Companies Inc. boosted its stake in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the period. International Assets Investment Management LLC acquired a new stake in Atlassian during the fourth quarter valued at approximately $13,805,000. Finally, Royal Bank of Canada boosted its holdings in shares of Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after buying an additional 56,149 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TEAM shares. TD Cowen dropped their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Oppenheimer dropped their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. KeyCorp initiated coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Robert W. Baird cut their price target on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the sale, the chief executive officer now directly owns 263,712 shares of the company’s stock, valued at $57,573,603.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, President Anutthara Bharadwaj sold 4,139 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the transaction, the president now directly owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total value of $1,799,175.12. Following the completion of the sale, the chief executive officer now directly owns 263,712 shares of the company’s stock, valued at $57,573,603.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 300,450 shares of company stock valued at $59,641,278. 40.48% of the stock is owned by corporate insiders.

Atlassian Stock Down 3.0 %

TEAM stock opened at $178.52 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $46.47 billion, a PE ratio of -283.37 and a beta of 0.67. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The firm has a 50 day simple moving average of $195.77 and a 200 day simple moving average of $205.78.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company posted ($0.40) EPS. Equities research analysts forecast that Atlassian Co. will post -0.29 earnings per share for the current fiscal year.

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.