Toronto Dominion Bank Decreases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Toronto Dominion Bank lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 29.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,037 shares of the technology company’s stock after selling 6,808 shares during the period. Toronto Dominion Bank’s holdings in Atlassian were worth $3,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management raised its stake in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Atlassian in the first quarter worth about $40,000. Crewe Advisors LLC bought a new stake in shares of Atlassian in the first quarter valued at approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after buying an additional 291 shares during the period. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Canaccord Genuity Group dropped their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Citigroup cut their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $235.00 to $275.00 in a report on Thursday, April 11th. TD Cowen cut their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Robert W. Baird decreased their target price on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $228.81.

Atlassian Price Performance

TEAM opened at $177.32 on Friday. The stock has a market capitalization of $46.16 billion, a P/E ratio of -281.46 and a beta of 0.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 12-month low of $152.34 and a 12-month high of $258.69. The stock has a 50-day moving average price of $170.19 and a 200-day moving average price of $193.91.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. The business 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 revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. Equities analysts predict that Atlassian Co. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total value of $36,665.75. Following the transaction, the chief accounting officer now owns 45,666 shares in the company, valued at approximately $8,413,960.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Gene Liu sold 199 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the sale, the chief accounting officer now directly owns 45,666 shares in the company, valued at approximately $8,413,960.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the transaction, the chief executive officer now owns 325,245 shares in the company, valued at $56,264,132.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,164 shares of company stock worth $47,848,092. 40.48% of the stock is currently owned by insiders.

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.