Comerica Bank Purchases 750 Shares of Atlassian Co. (NASDAQ:TEAM)

Comerica Bank raised its position in Atlassian Co. (NASDAQ:TEAMGet Rating) by 9.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,753 shares of the technology company’s stock after acquiring an additional 750 shares during the quarter. Comerica Bank’s holdings in Atlassian were worth $1,654,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Atlassian by 3.6% in the third quarter. US Bancorp DE now owns 38,822 shares of the technology company’s stock valued at $8,175,000 after acquiring an additional 1,360 shares during the period. Osborne Partners Capital Management LLC raised its stake in shares of Atlassian by 9.7% in the third quarter. Osborne Partners Capital Management LLC now owns 1,700 shares of the technology company’s stock worth $358,000 after buying an additional 150 shares during the period. Prospera Financial Services Inc raised its stake in shares of Atlassian by 668.4% in the third quarter. Prospera Financial Services Inc now owns 6,193 shares of the technology company’s stock worth $1,303,000 after buying an additional 5,387 shares during the period. CWM LLC raised its stake in shares of Atlassian by 116.9% in the third quarter. CWM LLC now owns 909 shares of the technology company’s stock worth $191,000 after buying an additional 490 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Atlassian by 324.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 27,528 shares of the technology company’s stock worth $5,797,000 after buying an additional 21,037 shares during the period. Institutional investors own 45.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEAM. Macquarie downgraded Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $287.00 to $147.00 in a research note on Friday, November 4th. Wells Fargo & Company decreased their target price on Atlassian from $250.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. Citigroup decreased their target price on Atlassian from $375.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. Mizuho decreased their target price on Atlassian from $320.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Finally, The Goldman Sachs Group decreased their target price on Atlassian from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.95.

Atlassian Price Performance

TEAM opened at $157.75 on Friday. The business has a fifty day moving average of $133.64 and a 200 day moving average of $189.72. Atlassian Co. has a 52-week low of $113.86 and a 52-week high of $352.92. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock has a market cap of $40.31 billion, a P/E ratio of -177.25 and a beta of 0.80.

Atlassian (NASDAQ:TEAMGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.46. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The company had revenue of $807.39 million during the quarter, compared to analysts’ expectations of $806.42 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Atlassian’s revenue was up 31.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.96 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, insider Gene Liu sold 526 shares of Atlassian stock in a transaction on Monday, November 21st. The stock was sold at an average price of $115.01, for a total transaction of $60,495.26. Following the completion of the sale, the insider now directly owns 50,651 shares of the company’s stock, valued at approximately $5,825,371.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Gene Liu sold 526 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $115.01, for a total value of $60,495.26. Following the completion of the transaction, the insider now directly owns 50,651 shares of the company’s stock, valued at approximately $5,825,371.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $147.94, for a total value of $1,274,355.16. Following the completion of the transaction, the chief executive officer now directly owns 430,700 shares of the company’s stock, valued at $63,717,758. The disclosure for this sale can be found here. Insiders sold a total of 275,124 shares of company stock worth $38,699,196 in the last quarter. 43.11% of the stock is owned by company insiders.

Atlassian Company Profile

(Get Rating)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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