STF Management LP Has $447,000 Stock Position in Atlassian Co. (NASDAQ:TEAM)

STF Management LP reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,525 shares of the technology company’s stock after selling 122 shares during the quarter. STF Management LP’s holdings in Atlassian were worth $447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the period. Hollencrest Capital Management increased its holdings in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% in 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 in the last quarter. Rothschild Investment LLC bought a new stake in Atlassian in the second quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Atlassian in the first quarter worth approximately $40,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Up 0.9 %

Shares of NASDAQ:TEAM opened at $165.15 on Tuesday. The stock has a market cap of $42.99 billion, a price-to-earnings ratio of -262.14 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The business’s 50 day moving average is $163.38 and its 200 day moving average is $176.42.

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

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $160.00, for a total value of $121,600.00. Following the transaction, the president now owns 153,294 shares of the company’s stock, valued at $24,527,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.95, for a total value of $1,303,074.60. Following the transaction, the chief executive officer now owns 31,792 shares of the company’s stock, valued at $5,212,298.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $160.00, for a total value of $121,600.00. Following the completion of the transaction, the president now directly owns 153,294 shares in the company, valued at approximately $24,527,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,211 shares of company stock valued at $38,944,173. Insiders own 40.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $175.00 in a report on Friday, August 2nd. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a report on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.69.

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.