Washington Trust Advisors Inc. Sells 65 Shares of Atlassian Co. (NASDAQ:TEAM)

Washington Trust Advisors Inc. lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193 shares of the technology company’s stock after selling 65 shares during the period. Washington Trust Advisors Inc.’s holdings in Atlassian were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Atlassian by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock valued at $2,992,720,000 after acquiring an additional 112,482 shares during the last quarter. WCM Investment Management LLC increased its holdings in Atlassian by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 9,532,236 shares of the technology company’s stock valued at $1,631,633,000 after purchasing an additional 28,479 shares during the period. BlackRock Inc. increased its holdings in Atlassian by 12.4% during the 2nd quarter. BlackRock Inc. now owns 8,501,011 shares of the technology company’s stock valued at $1,426,555,000 after purchasing an additional 937,538 shares during the period. Artisan Partners Limited Partnership increased its holdings in Atlassian by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after purchasing an additional 63,903 shares during the period. Finally, State Street Corp increased its holdings in Atlassian by 2.5% during the 2nd quarter. State Street Corp now owns 3,052,936 shares of the technology company’s stock valued at $512,313,000 after purchasing an additional 73,127 shares during the period. Institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded up $1.09 during midday trading on Thursday, hitting $194.23. The company had a trading volume of 511,837 shares, compared to its average volume of 1,738,497. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The company has a fifty day moving average of $214.94 and a two-hundred day moving average of $207.04.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEAM. UBS Group reduced their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Truist Financial upped their price target on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Mizuho upped their price target on Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Barclays upped their price target on Atlassian from $165.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $225.19.

Insider Activity

In other news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Gene Liu sold 227 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $227.19, for a total transaction of $1,872,272.79. Following the completion of the transaction, the chief executive officer now directly owns 494,460 shares of the company’s stock, valued at approximately $112,336,367.40. The disclosure for this sale can be found here. Insiders sold a total of 293,159 shares of company stock worth $64,129,051 over the last 90 days. Corporate insiders own 40.48% of the company’s stock.

Atlassian Company 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.