Atlassian Co. (NASDAQ:TEAM) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Atlassian Co. (NASDAQ:TEAM) by 72.5% during the 3rd quarter, Holdings Channel reports. The firm owned 211 shares of the technology company’s stock after selling 556 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Atlassian were worth $34,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Atlassian by 123.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock valued at $12,069,000 after acquiring an additional 34,204 shares during the last quarter. Valley National Advisers Inc. boosted its stake in shares of Atlassian by 54.7% during the first quarter. Valley National Advisers Inc. now owns 896 shares of the technology company’s stock valued at $174,000 after acquiring an additional 317 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Atlassian during the first quarter valued at $1,197,000. First Trust Direct Indexing L.P. boosted its stake in shares of Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Atlassian by 8.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 3,354 shares of the technology company’s stock valued at $654,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $144.73, for a total transaction of $1,150,314.04. Following the sale, the chief executive officer now directly owns 317,920 shares in the company, valued at approximately $46,012,561.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $144.73, for a total value of $1,150,314.04. Following the sale, the chief executive officer now owns 317,920 shares of the company’s stock, valued at approximately $46,012,561.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,185 shares of company stock worth $38,775,509. 40.48% of the stock is currently owned by company insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $190.44 on Thursday. The company has a market cap of $49.57 billion, a P/E ratio of -302.29 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The business’s 50-day simple moving average is $170.72 and its 200 day simple moving average is $170.98.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. On average, sell-side analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on TEAM shares. Oppenheimer reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a research note on Monday, September 23rd. BMO Capital Markets decreased their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price target on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.47.

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.