Lyell Wealth Management LP Sells 1,583 Shares of Atlassian Co. (NASDAQ:TEAM)

Lyell Wealth Management LP reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,651 shares of the technology company’s stock after selling 1,583 shares during the quarter. Lyell Wealth Management LP’s holdings in Atlassian were worth $2,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co grew its stake in shares of Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after buying an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Atlassian by 7.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after buying an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Atlassian by 2.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after buying an additional 3,687 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Atlassian in the second quarter worth about $12,846,000. Finally, Burney Co. bought a new stake in shares of Atlassian in the first quarter worth about $1,095,000. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

TEAM stock opened at $188.73 on Friday. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of -299.57 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a 50 day moving average price of $169.41 and a 200-day moving average price of $171.72. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share. Equities research analysts forecast that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $38,597,791 over the last 90 days. Corporate insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Scotiabank cut their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Barclays cut their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.47.

Atlassian Company 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.