Curi RMB Capital LLC Has $2.64 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Curi RMB Capital LLC lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 12.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,645 shares of the technology company’s stock after selling 2,414 shares during the quarter. Curi RMB Capital LLC’s holdings in Atlassian were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Asset Dedication LLC increased its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Trust Co. of Vermont lifted its stake in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in Atlassian during the second quarter valued at approximately $36,000. Crewe Advisors LLC bought a new stake in shares of Atlassian in the 1st quarter valued at approximately $43,000. Finally, GAMMA Investing LLC lifted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

TEAM stock opened at $240.04 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $62.51 billion, a PE ratio of -157.92 and a beta of 0.71. The business’s 50-day moving average price is $186.37 and its two-hundred day moving average price is $174.14.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted ($0.07) EPS. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on TEAM shares. Truist Financial upped their price target on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a report on Friday, November 1st. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Insider Activity

In related news, Director Heather Mirjahangir Fernandez sold 750 shares of Atlassian stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $185.50, for a total value of $139,125.00. Following the sale, the director now owns 10,110 shares of the company’s stock, valued at approximately $1,875,405. This trade represents a 6.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 785 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $240.00, for a total value of $188,400.00. Following the transaction, the chief accounting officer now directly owns 57,938 shares of the company’s stock, valued at approximately $13,905,120. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock worth $45,553,294 over the last quarter. 38.55% of the stock is currently owned by company 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.