Wedbush Securities Inc. Has $720,000 Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Wedbush Securities Inc. decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 33.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,068 shares of the technology company’s stock after selling 2,040 shares during the quarter. Wedbush Securities Inc.’s holdings in Atlassian were worth $720,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management lifted its holdings in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Activity

In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total value of $1,222,720.32. Following the completion of the transaction, the chief executive officer now owns 55,636 shares in the company, valued at approximately $8,559,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total value of $1,222,720.32. Following the completion of the transaction, the chief executive officer now owns 55,636 shares in the company, valued at approximately $8,559,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. Insiders sold 248,107 shares of company stock worth $41,434,043 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TEAM shares. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.69.

Atlassian Price Performance

TEAM stock opened at $166.10 on Thursday. The stock has a 50-day moving average price of $164.84 and a two-hundred day moving average price of $177.58. The stock has a market cap of $43.19 billion, a PE ratio of -263.65 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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 analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) EPS. Equities analysts forecast that Atlassian Co. will post -0.58 EPS for the current fiscal year.

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.