Glynn Capital Management LLC Sells 12,070 Shares of Atlassian Co. (NASDAQ:TEAM)

Glynn Capital Management LLC cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,829 shares of the technology company's stock after selling 12,070 shares during the period. Atlassian makes up about 8.7% of Glynn Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Glynn Capital Management LLC owned about 0.06% of Atlassian worth $36,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Avion Wealth grew its position in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Atlassian during the 4th quarter valued at $49,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Atlassian in the 4th quarter worth $56,000. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Up 0.5 %

TEAM traded up $1.18 during trading hours on Friday, hitting $227.34. 2,518,346 shares of the company's stock were exchanged, compared to its average volume of 1,941,341. The stock has a market cap of $59.56 billion, a price-to-earnings ratio of -169.66 and a beta of 0.91. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock's 50-day moving average is $271.24 and its two-hundred day moving average is $236.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TEAM. Citigroup boosted their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a report on Friday, January 17th. Cantor Fitzgerald lifted their price target on Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Jefferies Financial Group increased their price objective on Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Mizuho lifted their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $316.77.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $226.93, for a total value of $1,803,639.64. Following the completion of the sale, the chief executive officer now owns 55,636 shares in the company, valued at $12,625,477.48. This trade represents a 12.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $71,015,177 over the last ninety days. 38.55% of the stock is currently owned by corporate 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.