Motley Fool Asset Management LLC Sells 1,950 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Key Points

• Motley Fool Asset Management LLC reduced its holdings in Atlassian Corporation PLC by 6.9%, selling 1,950 shares in the 1st quarter, leaving them with 26,485 shares valued at approximately $5.62 million.
• Several other institutional investors have recently increased their stakes in Atlassian, with Voya Investment Management LLC making a significant boost of 17,941.0% in the 4th quarter.
• Atlassian's recent quarterly earnings exceeded analysts' expectations, reporting $0.98 earnings per share which is a notable increase from $0.66 in the same period the previous year.

Motley Fool Asset Management LLC decreased its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,485 shares of the technology company's stock after selling 1,950 shares during the period. Motley Fool Asset Management LLC's holdings in Atlassian were worth $5,620,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Clean Yield Group increased its position in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares during the period. Colonial Trust Co SC increased its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Smithfield Trust Co increased its position in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after purchasing an additional 78 shares during the period. GeoWealth Management LLC increased its position in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Atlassian by 82.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after purchasing an additional 110 shares during the period. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15. Following the sale, the director directly owned 268,275 shares of the company's stock, valued at approximately $43,865,645.25. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $163.51, for a total transaction of $1,253,304.15. Following the sale, the chief executive officer owned 268,275 shares of the company's stock, valued at approximately $43,865,645.25. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 544,823 shares of company stock valued at $109,705,869 in the last three months. Insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent analyst reports. Cantor Fitzgerald decreased their price target on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday. Truist Financial set a $230.00 price target on Atlassian in a research report on Friday. Capital One Financial cut Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research report on Wednesday, July 16th. Oppenheimer decreased their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Finally, Stephens lowered their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $259.76.

Atlassian Price Performance

TEAM traded down $1.28 on Tuesday, reaching $158.00. The stock had a trading volume of 5,758,007 shares, compared to its average volume of 2,531,947. Atlassian Corporation PLC has a fifty-two week low of $139.23 and a fifty-two week high of $326.00. The firm has a 50-day moving average of $197.41 and a 200-day moving average of $224.37. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $41.48 billion, a price-to-earnings ratio of -159.59 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The business's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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.