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

Dakota Wealth Management reduced its stake in Atlassian Co. (NASDAQ:TEAMFree Report) 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:TEAMGet Free Report) 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.

View Our Latest Analysis on TEAM

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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. (NASDAQ:TEAMFree Report).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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