State of New Jersey Common Pension Fund D Cuts Holdings in Atlassian Co. (NASDAQ:TEAM)

State of New Jersey Common Pension Fund D decreased its position in Atlassian Co. (NASDAQ:TEAM) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,764 shares of the technology company’s stock after selling 31,300 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Atlassian were worth $10,217,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TEAM. Vanguard Group Inc. increased its position in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Diversified Trust Co grew its position in 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 period. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $27,723,000 after buying an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in 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 worth $34,213,000 after acquiring an additional 3,687 shares during the period. Finally, Alberta Investment Management Corp boosted its stake in Atlassian by 16.1% in the fourth quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after acquiring an additional 13,328 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $163.74 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average of $163.71 and a 200 day moving average of $176.93. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The business 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%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. On average, equities research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $153.84, for a total transaction of $1,222,720.32. Following the completion of the sale, the chief executive officer now owns 55,636 shares of the company’s stock, valued at $8,559,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $153.84, for a total value of $1,222,720.32. Following the sale, the chief executive officer now owns 55,636 shares of the company’s stock, valued at approximately $8,559,042.24. The disclosure for this sale can be found here. Insiders have sold a total of 240,159 shares of company stock worth $40,166,893 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a research report on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

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.