Atlassian Corporation PLC $TEAM Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 96.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,192 shares of the technology company’s stock after selling 77,187 shares during the period. SBI Securities Co. Ltd.’s holdings in Atlassian were worth $572,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Reyes Financial Architecture Inc. acquired a new position in Atlassian in the third quarter valued at approximately $49,000. Crossmark Global Holdings Inc. bought a new position in shares of Atlassian during the third quarter valued at approximately $337,000. Strengthening Families & Communities LLC grew its holdings in shares of Atlassian by 2.2% during the third quarter. Strengthening Families & Communities LLC now owns 5,759 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 124 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $288,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $375,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TEAM. FBN Securities reissued an “outperform” rating and issued a $170.00 price target on shares of Atlassian in a report on Monday, August 10th. Wells Fargo & Company upped their price objective on Atlassian from $180.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th. UBS Group set a $280.00 target price on Atlassian in a research report on Monday, October 19th. Bank of America raised their target price on Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $200.00 price target on shares of Atlassian in a report on Friday, August 7th. Twenty-four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.35.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $227.61 on Monday. The firm’s 50 day moving average is $191.25 and its two-hundred day moving average is $125.92. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $229.96. The firm has a market capitalization of $57.62 billion, a P/E ratio of -1,197.95, a PEG ratio of 24.27 and a beta of 1.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts anticipate that Atlassian Corporation PLC will post 0.69 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,851 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the transaction, the executive owned 218,223 shares in the company, valued at approximately $37,632,556.35. The trade was a 0.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the business’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the transaction, the chief accounting officer owned 55,531 shares of the company’s stock, valued at $11,661,510. This trade represents a 0.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,475 shares of company stock worth $3,822,643 in the last three months. 37.63% of the stock is owned by company insiders.

Atlassian Company Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.