Azzad Asset Management Inc. ADV Has $273,000 Position in Atlassian Co. (NASDAQ:TEAM)

Azzad Asset Management Inc. ADV cut its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 7.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,401 shares of the technology company’s stock after selling 115 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Atlassian were worth $273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after purchasing an additional 326,673 shares during the period. WCM Investment Management LLC lifted its stake in shares of Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the period. Finally, Brown Advisory Inc. lifted its stake in shares of Atlassian by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock valued at $826,113,000 after purchasing an additional 255,653 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76. Following the completion of the transaction, the chief executive officer now directly owns 432,378 shares of the company’s stock, valued at $89,657,902.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Anutthara Bharadwaj sold 760 shares of the company’s 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 transaction, the president now owns 161,850 shares in the company, valued at $32,370,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $207.36, for a total value of $1,708,853.76. Following the completion of the transaction, the chief executive officer now owns 432,378 shares in the company, valued at approximately $89,657,902.08. The disclosure for this sale can be found here. Insiders sold a total of 279,854 shares of company stock valued at $49,959,914 over the last three months. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Up 0.2 %

TEAM traded up $0.41 during midday trading on Wednesday, reaching $182.69. 317,066 shares of the company were exchanged, compared to its average volume of 1,745,435. The company has a market cap of $47.55 billion, a price-to-earnings ratio of -292.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The company’s fifty day moving average price is $171.58 and its 200 day moving average price is $200.80. Atlassian Co. has a one year low of $152.34 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) earnings per share. As a group, analysts expect that Atlassian Co. will post -0.21 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TEAM shares. Canaccord Genuity Group dropped their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. KeyCorp began coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Mizuho dropped their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Finally, Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $200.00 to $225.00 in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.94.

Atlassian 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.