Atlassian Co. (NASDAQ:TEAM) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in Atlassian Co. (NASDAQ:TEAM) by 29.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,223 shares of the technology company’s stock after selling 221,046 shares during the quarter. American Century Companies Inc. owned approximately 0.20% of Atlassian worth $93,255,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TEAM. Vanguard Group Inc. boosted its position in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares during the period. Diversified Trust Co boosted 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 purchasing an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Atlassian by 2.1% during 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 during the last quarter. Finally, Alberta Investment Management Corp boosted its position in Atlassian by 16.1% during the fourth quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after purchasing an additional 13,328 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36. Following the completion of the transaction, the director now owns 119,220 shares of the company’s stock, valued at approximately $19,530,620.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36. Following the completion of the transaction, the director now directly owns 119,220 shares of the company’s stock, valued at $19,530,620.40. The disclosure for this sale can be found here. Insiders sold a total of 240,159 shares of company stock valued at $40,166,893 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TEAM. BMO Capital Markets reduced their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Barclays reduced their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley reduced their price target on Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

Atlassian Trading Down 1.2 %

Atlassian stock opened at $163.74 on Friday. The business has a 50 day moving average price of $163.71 and a two-hundred day moving average price of $176.93. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market cap of $42.58 billion, a price-to-earnings ratio of -259.90 and a beta of 0.73. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm 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 company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) EPS. As a group, equities analysts forecast that Atlassian Co. will post -0.58 EPS for the current 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.