Atlassian Co. (NASDAQ:TEAM) Holdings Decreased by Oak Thistle LLC

Oak Thistle LLC reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 66.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,839 shares of the technology company’s stock after selling 3,686 shares during the period. Oak Thistle LLC’s holdings in Atlassian were worth $448,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Atlassian in the 3rd quarter valued at about $606,000. Sequoia Financial Advisors LLC lifted its position in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares in the last quarter. Fulton Bank N.A. acquired a new stake in shares of Atlassian during the 4th quarter valued at $447,000. Paloma Partners Management Co purchased a new position in shares of Atlassian during the 3rd quarter valued at $1,588,000. Finally, Impax Asset Management Group plc increased its stake in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on TEAM shares. Wells Fargo & Company boosted their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Oppenheimer increased their price objective on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Raymond James lifted their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.65.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60. Following the sale, the chief executive officer now directly owns 405,348 shares in the company, valued at $101,823,417.60. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,668 shares of company stock valued at $65,408,691 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Atlassian Trading Up 1.7 %

Atlassian stock opened at $254.25 on Friday. The business has a 50 day moving average price of $256.07 and a two-hundred day moving average price of $201.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The stock has a market cap of $66.22 billion, a price-to-earnings ratio of -167.27 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned ($0.07) earnings per share. Atlassian’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts forecast that Atlassian Co. will post -0.55 EPS for the current 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.