Atlassian Co. (NASDAQ:TEAM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Atlassian Co. (NASDAQ:TEAM) by 37.0% during the 2nd quarter, Holdings Channel reports. The fund owned 1,888 shares of the technology company’s stock after selling 1,110 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Atlassian were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. Vanguard Group Inc. boosted its holdings in Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after purchasing an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the period. Dragoneer Investment Group LLC acquired a new position in Atlassian during the second quarter worth $469,803,000. Capital International Investors lifted its holdings in Atlassian by 6.3% in the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after acquiring an additional 144,117 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Atlassian by 6.7% in the first quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after acquiring an additional 130,253 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

TEAM stock opened at $167.53 on Tuesday. The firm has a market cap of $43.61 billion, a P/E ratio of -265.92 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The stock has a 50-day simple moving average of $158.86 and a 200-day simple moving average of $172.09.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Tuesday, October 1st. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a report on Thursday, July 11th. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets decreased their target price 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. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.65.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $181.21, for a total value of $1,440,257.08. Following the completion of the transaction, the chief executive officer now directly owns 437,140 shares of the company’s stock, valued at $79,214,139.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the transaction, the president now owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $181.21, for a total value of $1,440,257.08. Following the transaction, the chief executive officer now directly owns 437,140 shares in the company, valued at approximately $79,214,139.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 224,263 shares of company stock valued at $36,865,273. Corporate insiders own 40.48% of the company’s stock.

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.