Azzad Asset Management Inc. ADV Sells 115 Shares of Atlassian Co. (NASDAQ:TEAM)

Azzad Asset Management Inc. ADV cut its position in shares of Atlassian Co. (NASDAQ:TEAM) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,401 shares of the technology company’s stock after selling 115 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Atlassian were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TEAM. Livforsakringsbolaget Skandia Omsesidigt grew its position in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares during the period. EverSource Wealth Advisors LLC grew its position in Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after acquiring an additional 291 shares during the period. GAMMA Investing LLC bought a new stake in Atlassian in the fourth quarter valued at $107,000. Mather Group LLC. bought a new stake in Atlassian in the first quarter valued at $113,000. Finally, Newbridge Financial Services Group Inc. grew its position in Atlassian by 38.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $127,000 after acquiring an additional 150 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Trading Up 0.2 %

NASDAQ:TEAM traded up $0.41 during mid-day trading on Wednesday, hitting $182.69. The company had a trading volume of 317,066 shares, compared to its average volume of 1,745,435. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69. The business’s fifty day moving average is $171.58 and its two-hundred day moving average is $200.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $47.55 billion, a P/E ratio of -292.60 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, research analysts expect that Atlassian Co. will post -0.21 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of a number of analyst reports. TD Cowen lowered their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Robert W. Baird reduced their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Oppenheimer reduced their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company reduced their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, Mizuho reduced their price objective on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $226.94.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76. Following the completion of the sale, the chief executive officer now directly owns 432,378 shares in the company, valued at $89,657,902.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atlassian news, CAO Gene Liu sold 199 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the completion of the sale, the chief accounting officer now directly owns 45,666 shares in the company, valued at $8,413,960.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76. Following the transaction, the chief executive officer now owns 432,378 shares of the company’s stock, valued at $89,657,902.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,854 shares of company stock valued at $49,959,914. 40.48% of the stock is currently owned by company insiders.

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.