Atlassian Co. (NASDAQ:TEAM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 85.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,878 shares of the technology company’s stock after selling 11,338 shares during the period. Los Angeles Capital Management LLC’s holdings in Atlassian were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Financial Advocates Investment Management raised its position in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

NASDAQ TEAM opened at $240.04 on Monday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71. The company has a 50-day moving average price of $187.95 and a two-hundred day moving average price of $174.60.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping 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 net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) EPS. Analysts forecast that Atlassian Co. will post -0.56 EPS for the current year.

Analysts Set New Price Targets

TEAM has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company upped their price target on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group upped their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird upped their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.21.

Insider Activity

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 directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the sale, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock worth $45,553,294 over the last three months. Corporate insiders own 38.55% of the company’s stock.

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.