Nicholas Investment Partners LP decreased its position in Atlassian Co. (NASDAQ:TEAM – Free Report) by 67.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614 shares of the technology company’s stock after selling 3,408 shares during the period. Nicholas Investment Partners LP’s holdings in Atlassian were worth $271,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TEAM. Andesa Financial Management Inc. purchased a new stake in shares of Atlassian during the first quarter valued at approximately $233,000. Hall Laurie J Trustee purchased a new stake in Atlassian during the 2nd quarter valued at $28,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Atlassian in the 2nd quarter worth $41,000. Meeder Asset Management Inc. raised its stake in shares of Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after purchasing an additional 147 shares during the last quarter. Finally, WealthPLAN Partners LLC bought a new position in shares of Atlassian during the first quarter valued at $43,000. 53.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TEAM has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on Atlassian from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, November 11th. Truist Financial lowered their price objective on shares of Atlassian from $200.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. UBS Group started coverage on shares of Atlassian in a research report on Monday, October 2nd. They issued a “neutral” rating and a $225.00 target price for the company. Finally, Mizuho restated a “buy” rating and issued a $240.00 price target on shares of Atlassian in a research note on Tuesday, September 19th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.19.
Insider Buying and Selling at Atlassian
In related news, President Anutthara Bharadwaj sold 2,470 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $181.81, for a total value of $449,070.70. Following the completion of the transaction, the president now owns 193,647 shares of the company’s stock, valued at approximately $35,206,961.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $185.80, for a total value of $1,531,177.80. Following the completion of the transaction, the chief executive officer now directly owns 238,989 shares in the company, valued at approximately $44,404,156.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $181.81, for a total transaction of $449,070.70. Following the sale, the president now owns 193,647 shares in the company, valued at approximately $35,206,961.07. The disclosure for this sale can be found here. Insiders have sold 348,498 shares of company stock valued at $67,024,141 over the last 90 days. 40.48% of the stock is currently owned by corporate insiders.
Atlassian Stock Performance
Shares of NASDAQ:TEAM traded down $0.82 during mid-day trading on Thursday, reaching $186.50. 137,750 shares of the company traded hands, compared to its average volume of 1,888,576. The company’s 50 day moving average price is $192.00 and its 200-day moving average price is $179.85. The firm has a market cap of $48.13 billion, a PE ratio of -95.57 and a beta of 0.64. Atlassian Co. has a 52 week low of $113.86 and a 52 week high of $215.77. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.43 and a quick ratio of 1.43.
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.
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