SG Americas Securities LLC Decreases Position in Atlassian Co. (NASDAQ:TEAM)

SG Americas Securities LLC decreased its stake in Atlassian Co. (NASDAQ:TEAM) by 30.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,774 shares of the technology company’s stock after selling 6,356 shares during the period. SG Americas Securities LLC’s holdings in Atlassian were worth $2,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after buying an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Atlassian in the second quarter valued at about $469,803,000. Capital International Investors boosted 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 purchasing an additional 144,117 shares during the last quarter. Finally, Clearbridge Investments LLC boosted 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 purchasing an additional 130,253 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 437,140 shares of the company’s stock, valued at $79,214,139.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction 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 sale, the chief executive officer now owns 437,140 shares of the company’s stock, valued at approximately $79,214,139.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,263 shares of company stock valued at $36,865,273 in the last three months. 40.48% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 2.0 %

TEAM opened at $167.53 on Tuesday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $43.61 billion, a P/E ratio of -265.92 and a beta of 0.73. The stock’s 50 day moving average price is $158.86 and its 200 day moving average price is $172.09.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TEAM shares. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Barclays cut their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, BMO Capital Markets cut their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.65.

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.