Atlassian Corporation PLC $TEAM Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 7.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 188,842 shares of the technology company’s stock after selling 14,853 shares during the period. TD Asset Management Inc’s holdings in Atlassian were worth $30,619,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp boosted its holdings in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Atlassian in the 4th quarter valued at about $32,000. Basepoint Wealth LLC acquired a new position in shares of Atlassian in the 4th quarter valued at about $32,000. Bogart Wealth LLC boosted its holdings in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after buying an additional 94 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Atlassian in the 4th quarter valued at about $41,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other Atlassian news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the sale, the executive owned 236,841 shares in the company, valued at $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 10,891 shares of company stock worth $955,683 over the last 90 days. 36.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on TEAM. Morgan Stanley decreased their price target on shares of Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. KeyCorp decreased their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. UBS Group reduced their target price on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Guggenheim set a $115.00 target price on shares of Atlassian in a research note on Thursday, April 9th. Finally, Robert W. Baird set a $120.00 target price on shares of Atlassian in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Trading Down 2.0%

Atlassian stock opened at $99.47 on Friday. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of -119.84, a PEG ratio of 5.64 and a beta of 1.07. The firm has a 50-day moving average price of $78.95 and a two-hundred day moving average price of $106.45. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $0.97 EPS. Atlassian’s revenue was up 31.7% on a year-over-year basis. Sell-side analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.