Atlassian Co. (NASDAQ:TEAM) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. trimmed its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,359 shares of the technology company's stock after selling 2,713 shares during the period. Atlassian accounts for about 1.2% of Stanley Laman Group Ltd.'s investment portfolio, making the stock its 10th largest position. Stanley Laman Group Ltd.'s holdings in Atlassian were worth $8,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after acquiring an additional 54 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company's stock worth $544,000 after buying an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock worth $69,000 after buying an additional 82 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Atlassian by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company's stock worth $963,000 after buying an additional 83 shares during the last quarter. Finally, Commerce Bank increased its holdings in shares of Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company's stock worth $789,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TEAM. Jefferies Financial Group upped 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. Macquarie upped their price objective on Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a report on Friday, January 17th. KeyCorp increased their price target on Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Raymond James reiterated an "outperform" rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $319.71.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the transaction, the chief executive officer now owns 230,492 shares in the company, valued at $55,131,381.48. This trade represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the transaction, the president now owns 213,511 shares in the company, valued at $52,483,138.91. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 285,224 shares of company stock worth $76,899,985. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $2.90 during trading hours on Friday, hitting $313.10. The stock had a trading volume of 2,882,414 shares, compared to its average volume of 2,088,136. The stock's fifty day simple moving average is $270.09 and its 200 day simple moving average is $218.10. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly 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, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.