Motley Fool Wealth Management LLC Sells 1,721 Shares of Atlassian Co. (NASDAQ:TEAM)

Motley Fool Wealth Management LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,731 shares of the technology company’s stock after selling 1,721 shares during the period. Motley Fool Wealth Management LLC’s holdings in Atlassian were worth $11,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Atlassian in the 3rd quarter valued at $26,000. Carmel Capital Partners LLC increased its position in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after acquiring an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Atlassian by 271.0% in the 4th 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. GAMMA Investing LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $107,000. Finally, Operose Advisors LLC acquired a new position in shares of Atlassian in the 3rd quarter valued at $99,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Canaccord Genuity Group cut their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday. The Goldman Sachs Group increased their price target on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Piper Sandler cut their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday. Mizuho cut their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird cut their price target on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $223.22.

Atlassian Stock Performance

TEAM traded down $18.96 during trading on Friday, reaching $179.45. The company’s stock had a trading volume of 5,866,981 shares, compared to its average volume of 1,427,391. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $199.98 and a two-hundred day simple moving average of $206.54. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. As a group, analysts predict that Atlassian Co. will post -0.42 EPS for the current year.

Insider Activity

In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16. Following the completion of the sale, the chief executive officer now owns 329,640 shares in the company, valued at approximately $82,990,166.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atlassian news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on 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 in the company, valued at $10,018,939.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the completion of the transaction, the chief executive officer now owns 329,640 shares of the company’s stock, valued at approximately $82,990,166.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,450 shares of company stock valued at $61,721,553. 40.48% of the stock is currently owned by company insiders.

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.