Atlassian Co. (NASDAQ:TEAM) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,588 shares of the technology company's stock after selling 5,834 shares during the period. Motley Fool Wealth Management LLC's holdings in Atlassian were worth $8,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Thrivent Financial for Lutherans boosted its position in Atlassian by 168.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company's stock valued at $1,631,000 after buying an additional 6,440 shares during the period. Quest Partners LLC grew its stake in Atlassian by 18.3% in the third quarter. Quest Partners LLC now owns 2,135 shares of the technology company's stock worth $339,000 after purchasing an additional 330 shares in the last quarter. Commerce Bank grew its stake in Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company's stock worth $789,000 after purchasing an additional 90 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Atlassian by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company's stock worth $92,678,000 after buying an additional 12,422 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Atlassian by 169.0% during the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company's stock valued at $2,861,000 after buying an additional 11,320 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Atlassian Stock Performance

TEAM traded down $4.65 during trading on Friday, reaching $217.99. 2,418,163 shares of the company's stock were exchanged, compared to its average volume of 1,976,725. The company's fifty day simple moving average is $269.28 and its 200-day simple moving average is $238.60. The stock has a market capitalization of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent research reports. BMO Capital Markets upgraded shares of Atlassian from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Citigroup lifted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a report on Friday, January 17th. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. William Blair reiterated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, Raymond James reissued an "outperform" rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $316.77.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, December 30th. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56. Following the completion of the transaction, the chief executive officer now owns 7,948 shares of the company's stock, valued at approximately $1,962,917.56. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $70,644,164 over the last quarter. 38.55% of the stock is currently owned by insiders.

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.