Atlassian Corporation PLC $TEAM Shares Sold by Oberndorf William E

Oberndorf William E trimmed its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 32.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,394 shares of the technology company’s stock after selling 16,998 shares during the period. Atlassian comprises approximately 7.6% of Oberndorf William E’s holdings, making the stock its 7th largest holding. Oberndorf William E’s holdings in Atlassian were worth $5,652,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Capco Asset Management LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at about $25,000. Physician Wealth Advisors Inc. grew its stake in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Finally, Virtus Advisers LLC bought a new position in Atlassian in the 2nd quarter worth approximately $61,000. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on TEAM shares. Barclays dropped their price target on shares of Atlassian from $215.00 to $165.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Oppenheimer cut their price objective on Atlassian from $275.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. BTIG Research decreased their target price on Atlassian from $220.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, February 6th. KeyCorp cut their price objective on Atlassian from $210.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, Mizuho cut their price target on shares of Atlassian from $225.00 to $205.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $189.32.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35. Following the completion of the sale, the chief executive officer owned 107,310 shares in the company, valued at approximately $17,361,684.90. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35. Following the completion of the sale, the director owned 99,645 shares of the company’s stock, valued at $16,121,564.55. This represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 374,461 shares of company stock worth $53,152,830. Company insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $82.04 on Tuesday. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of -113.94, a P/E/G ratio of 331.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50-day simple moving average is $110.98 and its 200-day simple moving average is $143.37. Atlassian Corporation PLC has a 52 week low of $67.85 and a 52 week high of $242.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. Atlassian’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian Profile

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.