Oak Thistle LLC Lowers Holdings in Atlassian Co. (NASDAQ:TEAM)

Oak Thistle LLC decreased its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 66.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,839 shares of the technology company's stock after selling 3,686 shares during the period. Oak Thistle LLC's holdings in Atlassian were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TEAM. Virtu Financial LLC bought a new position in Atlassian in the third quarter valued at $606,000. Sequoia Financial Advisors LLC increased its position in shares of Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Fulton Bank N.A. purchased a new position in shares of Atlassian during the 4th quarter valued at about $447,000. Paloma Partners Management Co bought a new stake in Atlassian in the 3rd quarter worth approximately $1,588,000. Finally, Impax Asset Management Group plc boosted its stake in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Down 0.7 %

Shares of NASDAQ:TEAM traded down $1.89 during midday trading on Friday, reaching $252.36. The company's stock had a trading volume of 1,192,393 shares, compared to its average volume of 1,794,803. The firm has a 50 day moving average of $256.07 and a 200-day moving average of $201.44. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The firm has a market capitalization of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.07) EPS. Atlassian's quarterly revenue was up 21.5% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 165 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60. Following the completion of the transaction, the chief executive officer now directly owns 405,348 shares in the company, valued at $101,823,417.60. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,668 shares of company stock worth $65,408,691 over the last quarter. 38.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Morgan Stanley increased their target price on Atlassian from $259.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday. Raymond James boosted their price objective on Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. KeyCorp increased their price objective on Atlassian from $260.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Truist Financial raised shares of Atlassian from a "hold" rating to a "buy" rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $272.00.

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.