Summit Global Investments trimmed its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 51.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,115 shares of the technology company's stock after selling 5,512 shares during the quarter. Summit Global Investments' holdings in Atlassian were worth $812,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Asset Dedication LLC raised its stake in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock worth $27,000 after buying an additional 108 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian in the 1st quarter worth $40,000. 93.03% of the stock is owned by institutional investors.
TEAM has been the topic of several analyst reports. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Raymond James lifted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Baird R W cut shares of Atlassian from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. The Goldman Sachs Group raised shares of Atlassian from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Finally, Scotiabank upped their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.16.
Get Our Latest Analysis on Atlassian
TEAM stock opened at $237.80 on Friday. The company has a market cap of $61.93 billion, a price-to-earnings ratio of -156.45 and a beta of 0.71. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The business has a 50 day moving average price of $179.57 and a two-hundred day moving average price of $172.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.
Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results 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 net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the business earned ($0.07) earnings per share. The firm's revenue was up 21.5% on a year-over-year basis. Analysts anticipate that Atlassian Co. will post -0.58 EPS for the current fiscal year.
In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the company'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 value of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.62, for a total value of $1,205,075.76. Following the transaction, the chief executive officer now owns 238,440 shares in the company, valued at approximately $36,152,272.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief technology officer now owns 128,957 shares of the company's stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,662 shares of company stock worth $44,653,051. Insiders own 38.55% of the company's stock.
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.
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