Atlassian Co. (NASDAQ:TEAM) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. lowered its position in shares of Atlassian Co. (NASDAQ:TEAM) by 8.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,469 shares of the technology company’s stock after selling 1,369 shares during the period. Landscape Capital Management L.L.C.’s holdings in Atlassian were worth $2,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after acquiring an additional 520 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares during the period. Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Atlassian in the 3rd quarter valued at about $97,350,000. Finally, Aigen Investment Management LP acquired a new position in Atlassian in the third quarter valued at about $2,232,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the transaction, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,694 shares of company stock valued at $49,012,774. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group boosted their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Finally, Raymond James lifted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Stock Performance

Shares of TEAM opened at $253.91 on Friday. The company has a market capitalization of $66.13 billion, a price-to-earnings ratio of -167.05 and a beta of 0.71. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a 50 day moving average price of $192.77 and a 200 day moving average price of $175.94.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) 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 quarter in the prior year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Research analysts predict that Atlassian Co. will post -0.56 EPS for the current fiscal year.

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.