Oppenheimer Asset Management Inc. Has $5.59 Million Position in Atlassian Co. (NASDAQ:TEAM)

Oppenheimer Asset Management Inc. lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,190 shares of the technology company’s stock after selling 5,679 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Atlassian were worth $5,589,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new stake in Atlassian in the 3rd quarter worth approximately $2,232,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Atlassian by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock worth $58,165,000 after purchasing an additional 6,470 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Atlassian by 140.4% in the 3rd quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock valued at $767,000 after buying an additional 2,819 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Atlassian by 18.6% in the third quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock worth $224,000 after buying an additional 221 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the transaction, the director now owns 270,232 shares in the company, valued at $66,163,602.88. This represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 785 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00. Following the sale, the chief accounting officer now directly owns 57,938 shares in the company, valued at approximately $13,905,120. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,248 shares of company stock worth $45,553,294 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $249.99 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average price is $184.61 and its two-hundred day moving average price is $173.61. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned ($0.07) EPS. The firm’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts anticipate that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on TEAM shares. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research report on Friday, November 1st. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BMO Capital Markets increased their price objective on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

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.