Jefferies Financial Group Inc. Decreases Stake in Atlassian Corporation PLC (NASDAQ:TEAM)

Jefferies Financial Group Inc. cut its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 68.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,191 shares of the technology company's stock after selling 4,804 shares during the period. Jefferies Financial Group Inc.'s holdings in Atlassian were worth $465,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp boosted its position in shares of Atlassian by 27.6% during the 1st quarter. Alberta Investment Management Corp now owns 116,799 shares of the technology company's stock valued at $24,786,000 after acquiring an additional 25,261 shares during the last quarter. EFG Asset Management Americas Corp. purchased a new position in shares of Atlassian in the 1st quarter worth $741,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Atlassian by 10.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,352 shares of the technology company's stock worth $287,000 after buying an additional 123 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Atlassian by 15.3% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,086 shares of the technology company's stock worth $230,000 after buying an additional 144 shares during the last quarter. Finally, Vestcor Inc raised its position in shares of Atlassian by 323.7% during the 1st quarter. Vestcor Inc now owns 13,098 shares of the technology company's stock valued at $2,780,000 after buying an additional 10,007 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $185.43, for a total transaction of $1,421,320.95. Following the transaction, the chief executive officer directly owned 306,600 shares in the company, valued at approximately $56,852,838. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $185.43, for a total transaction of $1,421,320.95. Following the transaction, the director directly owned 306,600 shares in the company, valued at approximately $56,852,838. The trade was a 2.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 506,781 shares of company stock valued at $103,497,171. 38.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on TEAM shares. Piper Sandler reiterated an "overweight" rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. UBS Group reiterated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Oppenheimer cut their price objective on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, July 21st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $274.05.

Atlassian Price Performance

Shares of TEAM stock opened at $185.50 on Thursday. The stock has a market capitalization of $48.70 billion, a price-to-earnings ratio of -111.75 and a beta of 0.96. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a twelve month low of $136.84 and a twelve month high of $326.00. The stock has a fifty day simple moving average of $200.82 and a two-hundred day simple moving average of $227.26.

Atlassian 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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