Atlassian Corporation PLC (NASDAQ:TEAM) Shares Sold by Motley Fool Asset Management LLC

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

Other institutional investors have also recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. Nuveen LLC purchased a new position in shares of Atlassian during the 1st quarter worth $327,665,000. Durable Capital Partners LP raised its holdings in Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after buying an additional 1,312,820 shares during the period. BNP Paribas Financial Markets purchased a new stake in Atlassian in the 4th quarter valued at about $298,327,000. Finally, Whale Rock Capital Management LLC purchased a new stake in Atlassian in the 4th quarter valued at about $170,943,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred 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 director directly owned 268,275 shares in the company, valued at $43,865,645.25. The trade was a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 268,275 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 501,789 shares of company stock worth $100,067,558. Company insiders own 38.55% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on TEAM shares. Mizuho reduced their price objective on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. UBS Group restated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Barclays reduced their price objective on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Piper Sandler reiterated an "overweight" rating and set a $300.00 price target (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $259.76.

Atlassian Trading Up 2.2%

NASDAQ:TEAM traded up $3.54 during mid-day trading on Friday, reaching $167.93. The company's stock had a trading volume of 1,295,640 shares, compared to its average volume of 2,399,435. The company's fifty day simple moving average is $195.39 and its two-hundred day simple moving average is $223.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a twelve month low of $145.88 and a twelve month high of $326.00. The stock has a market cap of $44.08 billion, a P/E ratio of -169.47 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The company's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. On average, equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Atlassian Company 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.