Shelton Capital Management Sells 1,684 Shares of Atlassian Co. (NASDAQ:TEAM)

Shelton Capital Management lessened its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,079 shares of the technology company's stock after selling 1,684 shares during the quarter. Shelton Capital Management's holdings in Atlassian were worth $9,024,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the 4th quarter worth approximately $39,000. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research analyst reports. Barclays upped their price objective on Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Citigroup raised their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Stephens began coverage on shares of Atlassian in a report on Wednesday, March 19th. They set an "equal weight" rating and a $255.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $297.50.

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Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total value of $1,475,228.28. Following the transaction, the director now directly owns 333,816 shares of the company's stock, valued at approximately $61,959,587.76. This trade represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of Atlassian stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83. Following the transaction, the chief financial officer now owns 169,342 shares of the company's stock, valued at $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $68,608,284 in the last ninety days. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Up 0.2 %

Shares of Atlassian stock traded up $0.34 during trading on Friday, reaching $198.37. 2,003,551 shares of the company traded hands, compared to its average volume of 2,041,722. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $51.97 billion, a PE ratio of -148.04 and a beta of 1.07. The company has a 50 day moving average price of $251.13 and a 200-day moving average price of $241.80. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.