Atlassian Co. (NASDAQ:TEAM) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 63.2% during the 3rd quarter, Holdings Channel reports. The fund owned 49,747 shares of the technology company’s stock after selling 85,254 shares during the quarter. Stifel Financial Corp’s holdings in Atlassian were worth $7,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC grew its stake in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Rothschild Investment LLC acquired a new stake in Atlassian during the second quarter valued at $36,000. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter worth about $48,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the subject of several recent analyst reports. Oppenheimer lifted their price target on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Scotiabank increased their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Piper Sandler boosted their price target on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $254.25.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44. Following the sale, the chief executive officer now owns 79,480 shares of the company’s stock, valued at approximately $13,116,584.40. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the completion of the transaction, the chief technology officer now owns 204,109 shares of the company’s stock, valued at $38,780,710. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 268,642 shares of company stock valued at $56,073,616 in the last three months. 38.55% of the stock is currently owned by insiders.

Atlassian Trading Up 1.6 %

TEAM opened at $279.18 on Friday. The firm has a market capitalization of $72.71 billion, a price-to-earnings ratio of -183.67 and a beta of 0.80. The company’s 50 day simple moving average is $226.93 and its two-hundred day simple moving average is $185.86. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) earnings per share. Analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

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.