Victory Capital Management Inc. Sells 12,841 Shares of Atlassian Co. (NASDAQ:TEAM)

Victory Capital Management Inc. lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,802 shares of the technology company's stock after selling 12,841 shares during the quarter. Victory Capital Management Inc.'s holdings in Atlassian were worth $27,069,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in shares of Atlassian during the 3rd quarter worth about $26,000. Carmel Capital Partners LLC increased its position in shares of Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company's stock worth $52,000 after acquiring an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company's stock valued at $88,000 after acquiring an additional 271 shares during the period. Operose Advisors LLC acquired a new position in shares of Atlassian during the 3rd quarter valued at $99,000. Finally, GAMMA Investing LLC acquired a new position in shares of Atlassian during the 4th quarter valued at $107,000. Institutional investors and hedge funds own 93.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on TEAM. UBS Group reduced their price objective on Atlassian from $260.00 to $250.00 and set a "neutral" rating on the stock in a research note on Friday, February 2nd. Oppenheimer lowered their price objective on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Mizuho reduced their target price on shares of Atlassian from $240.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, April 26th. TD Cowen lowered their price target on shares of Atlassian from $220.00 to $210.00 and set a "hold" rating for the company in a report on Friday, April 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a "neutral" rating in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $223.22.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $5.60 during midday trading on Wednesday, hitting $178.52. The company's stock had a trading volume of 1,166,561 shares, compared to its average volume of 1,757,207. The firm has a market cap of $46.47 billion, a P/E ratio of -283.37 and a beta of 0.67. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The firm's fifty day moving average price is $195.77 and its 200-day moving average price is $205.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company earned ($0.40) earnings per share. The business's revenue was up 29.9% compared to the same quarter last year. On average, sell-side analysts forecast that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the company's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45. Following the completion of the transaction, the chief executive officer now owns 300,522 shares in the company, valued at $54,830,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $182.45, for a total transaction of $1,503,570.45. Following the sale, the chief executive officer now owns 300,522 shares of the company's stock, valued at $54,830,238.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $152,000.00. Following the completion of the transaction, the president now directly owns 161,850 shares of the company's stock, valued at $32,370,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 308,691 shares of company stock worth $61,400,649. 40.48% of the stock is owned by insiders.

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.