Wedbush Securities Inc. Has $732,000 Stock Position in Atlassian Co. (NASDAQ:TEAM)

Wedbush Securities Inc. cut its position in Atlassian Co. (NASDAQ:TEAM) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,007 shares of the technology company’s stock after selling 310 shares during the quarter. Wedbush Securities Inc.’s holdings in Atlassian were worth $732,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on TEAM shares. Scotiabank upped their price target on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Morgan Stanley boosted their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup raised their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $305.64.

Atlassian Trading Down 0.6 %

Shares of NASDAQ TEAM opened at $186.61 on Tuesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a 50-day moving average of $262.42 and a two-hundred day moving average of $240.89. The company has a market cap of $48.89 billion, a PE ratio of -139.26 and a beta of 1.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other Atlassian 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 transaction 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. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80. Following the completion of the transaction, the chief executive officer now directly owns 445,088 shares in the company, valued at approximately $108,312,164.80. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,981 shares of company stock valued at $71,384,361 over the last 90 days. 38.55% of the stock is owned by company insiders.

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.