CENTRAL TRUST Co Sells 183 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

CENTRAL TRUST Co reduced its position in Atlassian Corporation PLC (NASDAQ:TEAMFree Report) by 25.0% during the first quarter, Holdings Channel reports. The institutional investor owned 550 shares of the technology company’s stock after selling 183 shares during the quarter. CENTRAL TRUST Co’s holdings in Atlassian were worth $117,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares in the last quarter. LPL Financial LLC boosted its stake in Atlassian by 93.4% in the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company’s stock worth $12,542,000 after purchasing an additional 24,891 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Atlassian in the 4th quarter worth approximately $10,805,000. Shay Capital LLC acquired a new stake in Atlassian in the 4th quarter worth approximately $243,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Atlassian by 23.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,192 shares of the technology company’s stock worth $533,000 after purchasing an additional 421 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 7,674 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the completion of the sale, the president now owns 192,260 shares of the company’s stock, valued at $43,356,552.60. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the sale, the director now directly owns 333,816 shares of the company’s stock, valued at $61,959,587.76. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,523 shares of company stock valued at $77,393,768. 38.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Stephens decreased their price objective on shares of Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Raymond James Financial restated an “outperform” rating and set a $300.00 price objective (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Wall Street Zen cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $282.19.

View Our Latest Report on Atlassian

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $189.53 on Friday. The firm has a market cap of $49.75 billion, a PE ratio of -114.17 and a beta of 0.96. The firm has a fifty day moving average of $210.50 and a 200 day moving average of $241.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. As a group, research analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Atlassian Company 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.

Further Reading

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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