Motley Fool Asset Management LLC Sells 11,036 Shares of Atlassian Co. (NASDAQ:TEAM)

Motley Fool Asset Management LLC lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 28.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,435 shares of the technology company’s stock after selling 11,036 shares during the period. Motley Fool Asset Management LLC’s holdings in Atlassian were worth $6,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westpac Banking Corp boosted its holdings in shares of Atlassian by 14.3% in the 4th quarter. Westpac Banking Corp now owns 7,157 shares of the technology company’s stock valued at $1,742,000 after buying an additional 897 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in Atlassian during the fourth quarter valued at approximately $487,000. Ardmore Road Asset Management LP acquired a new stake in Atlassian in the fourth quarter valued at approximately $8,518,000. Massachusetts Financial Services Co. MA purchased a new position in Atlassian in the fourth quarter worth $687,486,000. Finally, Elwood Capital Partners LP acquired a new position in shares of Atlassian during the fourth quarter worth $3,429,000. 94.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $229.64, for a total transaction of $1,825,178.72. Following the completion of the sale, the director now directly owns 23,844 shares in the company, valued at approximately $5,475,536.16. The trade was a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $70,144,394 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TEAM. Jefferies Financial Group dropped their target price on Atlassian from $400.00 to $330.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler boosted their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald raised shares of Atlassian from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $304.00 to $272.00 in a research report on Wednesday. Raymond James reissued an “outperform” rating and set a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $308.73.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $223.96 on Thursday. The company has a market capitalization of $58.68 billion, a PE ratio of -167.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average price is $266.94 and its 200 day moving average price is $239.70. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted 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%. On average, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

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.