Atlassian Co. (NASDAQ:TEAM) Shares Sold by Fairfield Financial Advisors LTD

Fairfield Financial Advisors LTD lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 19.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 641 shares of the technology company’s stock after selling 151 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in Atlassian were worth $156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Avion Wealth raised its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Assetmark Inc. raised its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Atlassian in the 4th quarter valued at about $49,000. Finally, Kestra Investment Management LLC acquired a new position in Atlassian in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 4.7 %

NASDAQ TEAM opened at $238.86 on Friday. The stock has a market cap of $62.58 billion, a PE ratio of -178.25 and a beta of 0.87. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The business has a 50 day moving average price of $276.11 and a two-hundred day moving average price of $231.65. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TEAM shares. Cantor Fitzgerald boosted their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Barclays upped their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group upped their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Mizuho upped their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the transaction, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at $99,788,491.16. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph Leo Binz sold 2,587 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the transaction, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,501 shares of company stock valued at $74,977,422 in the last three months. Corporate insiders own 38.55% of the company’s stock.

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.