Mackenzie Financial Corp Sells 4,027 Shares of Atlassian Corporation PLC $TEAM

Mackenzie Financial Corp decreased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 7.8% during the second quarter, HoldingsChannel reports. The firm owned 47,786 shares of the technology company’s stock after selling 4,027 shares during the quarter. Mackenzie Financial Corp’s holdings in Atlassian were worth $9,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State of Wyoming boosted its position in Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Atlassian by 2.8% during the first quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company’s stock valued at $561,000 after purchasing an additional 71 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Atlassian by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock worth $156,000 after purchasing an additional 74 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in Atlassian by 5.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 1,412 shares of the technology company’s stock worth $300,000 after purchasing an additional 74 shares in the last quarter. Finally, Smithfield Trust Co raised its holdings in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after purchasing an additional 78 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial set a $210.00 target price on shares of Atlassian in a report on Friday, October 31st. KeyCorp cut their price objective on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 target price on shares of Atlassian in a research note on Friday, October 31st. Wells Fargo & Company started coverage on Atlassian in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price target on the stock. Finally, Raymond James Financial reduced their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80. Following the completion of the sale, the chief executive officer directly owned 168,630 shares in the company, valued at approximately $25,314,735.60. This trade represents a 4.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80. Following the completion of the transaction, the director directly owned 168,630 shares of the company’s stock, valued at approximately $25,314,735.60. This trade represents a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 581,181 shares of company stock worth $92,602,385 over the last ninety days. 36.66% of the stock is currently owned by insiders.

Atlassian Trading Up 1.5%

NASDAQ:TEAM opened at $153.91 on Wednesday. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of -216.77, a PEG ratio of 28.59 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average price is $155.61 and its 200-day moving average price is $178.10. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

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.