Capital Group Private Client Services Inc. Trims Holdings in Atlassian Co. (NASDAQ:TEAM)

Capital Group Private Client Services Inc. trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,366 shares of the technology company’s stock after selling 2,037 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Atlassian were worth $15,875,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Atlassian by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after purchasing an additional 326,673 shares during the period. WCM Investment Management LLC boosted its position in shares of Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after acquiring an additional 249,017 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Atlassian by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after acquiring an additional 255,653 shares in the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TEAM shares. Citigroup dropped their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Mizuho decreased their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Oppenheimer decreased their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Finally, Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a research note on Thursday, July 11th. Eight 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $228.81.

Atlassian Trading Down 0.5 %

Shares of TEAM traded down $0.90 during trading hours on Friday, hitting $177.32. 1,314,142 shares of the stock traded hands, compared to its average volume of 1,708,059. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 1-year low of $152.34 and a 1-year high of $258.69. The firm has a market capitalization of $46.16 billion, a PE ratio of -278.41 and a beta of 0.74. The business has a fifty day moving average of $170.24 and a 200-day moving average of $194.60.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Analysts expect that Atlassian Co. will post -0.22 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $186.48, for a total value of $1,482,143.04. Following the transaction, the chief executive officer now owns 476,880 shares of the company’s stock, valued at $88,928,582.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $186.48, for a total value of $1,482,143.04. Following the transaction, the chief executive officer now owns 476,880 shares of the company’s stock, valued at $88,928,582.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 199 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total value of $36,665.75. Following the completion of the transaction, the chief accounting officer now directly owns 45,666 shares in the company, valued at approximately $8,413,960.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,164 shares of company stock valued at $47,848,092. 40.48% of the stock is currently owned by company insiders.

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.