Legacy Wealth Asset Management LLC Sells 261 Shares of Atlassian Co. (NASDAQ:TEAM)

Legacy Wealth Asset Management LLC cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,167 shares of the technology company’s stock after selling 261 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Atlassian were worth $771,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TEAM. True Wealth Design LLC increased 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 during the last quarter. GAMMA Investing LLC raised its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter worth about $48,000. Quarry LP boosted its stake in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after purchasing an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $188.56, for a total transaction of $1,498,674.88. Following the sale, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at $70,437,719.36. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,136 shares of company stock valued at $67,814,587. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TEAM. Mizuho boosted their target price on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Scotiabank upped their price objective on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on shares of Atlassian in a research note on Friday. They issued a “neutral” rating and a $264.00 target price on the stock. Finally, Citigroup increased their price objective on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $272.00.

Atlassian Stock Performance

Shares of TEAM opened at $252.36 on Friday. The stock has a 50-day moving average of $256.36 and a two-hundred day moving average of $201.95. The stock has a market cap of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, research analysts predict 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.