Atlassian Co. (NASDAQ:TEAM) Holdings Lowered by Dakota Wealth Management

Dakota Wealth Management reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 67.4% in the third quarter, HoldingsChannel reports. The fund owned 2,263 shares of the technology company’s stock after selling 4,671 shares during the quarter. Dakota Wealth Management’s holdings in Atlassian were worth $359,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Founders Financial Securities LLC increased its position in shares of Atlassian by 14.3% during the 1st quarter. Founders Financial Securities LLC now owns 2,099 shares of the technology company’s stock valued at $410,000 after purchasing an additional 263 shares during the period. Oak Thistle LLC acquired a new position in Atlassian during the first quarter worth about $254,000. Allspring Global Investments Holdings LLC grew its holdings in Atlassian by 123.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock worth $12,069,000 after acquiring an additional 34,204 shares during the period. Valley National Advisers Inc. lifted its holdings in Atlassian by 54.7% in the 1st quarter. Valley National Advisers Inc. now owns 896 shares of the technology company’s stock valued at $174,000 after acquiring an additional 317 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in Atlassian in the 1st quarter valued at about $1,197,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Trading Down 0.0 %

Shares of NASDAQ TEAM opened at $188.66 on Tuesday. The business has a 50 day simple moving average of $169.41 and a 200 day simple moving average of $171.27. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The stock has a market cap of $49.11 billion, a price-to-earnings ratio of -299.46 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 (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) EPS. On average, research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research reports. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a research note on Monday, September 23rd. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Raymond James upgraded Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Tuesday, October 1st. Finally, Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $212.47.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $144.73, for a total transaction of $1,150,314.04. Following the completion of the sale, the chief executive officer now directly owns 317,920 shares of the company’s stock, valued at approximately $46,012,561.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $38,683,550 over the last quarter. Insiders own 40.48% of the company’s stock.

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.