Mediolanum International Funds Ltd Lowers Stake in Atlassian Co. (NASDAQ:TEAM)

Mediolanum International Funds Ltd lowered its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,745 shares of the technology company’s stock after selling 1,732 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Atlassian were worth $3,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Diversified Trust Co lifted its stake in Atlassian by 27.6% in the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after acquiring an additional 10,434 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Atlassian by 2.1% in 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 purchasing an additional 3,687 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Atlassian during the second quarter worth approximately $12,846,000. Finally, Burney Co. acquired a new position in shares of Atlassian during the 1st quarter valued at about $1,095,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88. Following the transaction, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at approximately $70,437,719.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $188.56, for a total transaction of $1,498,674.88. Following the completion of the transaction, the chief executive officer now owns 373,556 shares in the company, valued at approximately $70,437,719.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock valued at $38,597,791 over the last quarter. Company insiders own 40.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial lowered their price objective on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. BMO Capital Markets reduced their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Finally, Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $212.47.

Atlassian Trading Down 0.3 %

Shares of TEAM opened at $188.73 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $169.41 and a 200-day simple moving average of $171.50. The stock has a market cap of $49.13 billion, a price-to-earnings ratio of -299.57 and a beta of 0.73.

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

Atlassian 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.