Raymond James & Associates Decreases Stake in Atlassian Co. (NASDAQ:TEAM)

Raymond James & Associates decreased its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 170,077 shares of the technology company's stock after selling 19,779 shares during the quarter. Raymond James & Associates owned about 0.07% of Atlassian worth $40,454,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TEAM. BlackRock Inc. grew its position in Atlassian by 26.0% in the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company's stock worth $1,294,640,000 after purchasing an additional 1,561,804 shares during the last quarter. Durable Capital Partners LP acquired a new position in Atlassian during the 1st quarter worth $434,144,000. Morgan Stanley grew its position in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company's stock valued at $361,449,000 after buying an additional 1,095,297 shares in the last quarter. Norges Bank bought a new stake in Atlassian during the fourth quarter worth approximately $138,509,000. Finally, SRS Investment Management LLC acquired a new position in shares of Atlassian during the 2nd quarter valued at $164,186,000. Institutional investors own 93.03% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on TEAM shares. Barclays boosted their target price on shares of Atlassian from $165.00 to $250.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 24th. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a "sector weight" rating for the company. Scotiabank began coverage on Atlassian in a report on Friday, December 1st. They set a "sector perform" rating and a $185.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the company a "neutral" rating in a research report on Friday, February 2nd. Finally, StockNews.com downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $225.19.

Atlassian Stock Up 1.0 %

Shares of Atlassian stock traded up $1.97 on Friday, hitting $195.11. The company had a trading volume of 1,130,698 shares, compared to its average volume of 1,817,649. The stock has a 50-day moving average of $213.10 and a 200-day moving average of $206.82. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The firm has a market capitalization of $50.61 billion, a P/E ratio of -130.95 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Research analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 2,470 shares of the business's stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $240.55, for a total transaction of $594,158.50. Following the transaction, the president now owns 171,674 shares of the company's stock, valued at approximately $41,296,180.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 2,470 shares of the firm's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the sale, the president now directly owns 171,674 shares in the company, valued at approximately $41,296,180.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $194.67, for a total value of $1,604,275.47. The disclosure for this sale can be found here. Insiders sold a total of 293,159 shares of company stock worth $63,767,765 in the last three months. Insiders own 40.48% of the company's stock.

About Atlassian

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.