Diversified Trust Co Sells 6,464 Shares of Atlassian Corporation PLC $TEAM

Diversified Trust Co reduced its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 26.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 18,042 shares of the technology company’s stock after selling 6,464 shares during the quarter. Diversified Trust Co’s holdings in Atlassian were worth $1,231,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC lifted its position in Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after buying an additional 2,267 shares in the last quarter. Empowered Funds LLC increased its position in shares of Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after acquiring an additional 1,328 shares during the last quarter. Focus Partners Wealth increased its position in shares of Atlassian by 32.6% in the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group lowered their price target on Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company dropped their price target on shares of Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Barclays increased their price target on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Wolfe Research reissued an “outperform” rating and set a $100.00 target price on shares of Atlassian in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.63.

Insider Transactions at Atlassian

In other news, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares in the company, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 20,041 shares of company stock valued at $1,801,069 in the last three months. Insiders own 36.66% of the company’s stock.

Atlassian Stock Up 1.7%

TEAM opened at $81.35 on Wednesday. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $20.64 billion, a P/E ratio of -98.01, a P/E/G ratio of 4.53 and a beta of 1.07. The stock has a fifty day moving average of $84.28 and a 200-day moving average of $100.99.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. Atlassian’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.