Landscape Capital Management L.L.C. Trims Position in Atlassian Co. (NASDAQ:TEAM)

Landscape Capital Management L.L.C. lowered its position in shares of Atlassian Co. (NASDAQ:TEAM) by 8.1% during the third quarter, Holdings Channel reports. The fund owned 15,469 shares of the technology company’s stock after selling 1,369 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Atlassian were worth $2,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings 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 purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont lifted its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in Atlassian in the 2nd quarter worth about $36,000. GAMMA Investing LLC grew its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. Finally, Reston Wealth Management LLC acquired a new position in shares of Atlassian during the 3rd quarter valued at about $48,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Scotiabank raised their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Raymond James increased their target price on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their target price on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Mizuho upped their price target on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.21.

Atlassian Price Performance

Shares of TEAM stock opened at $253.91 on Friday. The firm has a fifty day simple moving average of $192.77 and a 200-day simple moving average of $175.94. The company has a market capitalization of $66.13 billion, a PE ratio of -167.05 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 company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. Equities research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88. Following the transaction, the chief executive officer now directly owns 182,804 shares of the company’s stock, valued at $30,127,927.24. This represents a 4.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 165 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,694 shares of company stock valued at $49,012,774. Insiders own 38.55% of the company’s stock.

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.