Motley Fool Wealth Management LLC Sells 5,834 Shares of Atlassian Co. (NASDAQ:TEAM)

Motley Fool Wealth Management LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the 4th quarter worth $27,000. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Avion Wealth lifted its holdings in shares of 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 acquiring an additional 157 shares during the last quarter. Assetmark Inc. lifted 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 worth $43,000 after acquiring an additional 41 shares during the last quarter. Finally, Mainstream Capital Management LLC bought a new stake in shares of Atlassian during the 4th quarter valued at approximately $49,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

TEAM stock opened at $236.22 on Wednesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $271.00 and a 200-day moving average price of $237.85. The firm has a market cap of $61.89 billion, a PE ratio of -176.28 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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 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 year.

Analysts Set New Price Targets

TEAM has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $350.00 price target (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. KeyCorp upped their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the transaction, the chief executive officer now owns 71,532 shares in the company, valued at approximately $15,515,290.80. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock valued at $70,849,302 over the last ninety days. 38.55% of the stock is 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.