Washington Trust Advisors Inc. Reduces Position in Atlassian Co. (NASDAQ:TEAM)

Washington Trust Advisors Inc. cut its position in Atlassian Co. (NASDAQ:TEAM) by 25.2% during the fourth quarter, HoldingsChannel reports. The firm owned 193 shares of the technology company’s stock after selling 65 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Atlassian were worth $46,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Wealth Asset Management LLC lifted its position in Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after acquiring an additional 43 shares in the last quarter. Park National Corp OH raised its position in Atlassian by 3.5% in the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after acquiring an additional 48 shares during the period. Carmel Capital Partners LLC raised its position in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares during the period. Personal CFO Solutions LLC raised its position in Atlassian by 1.0% in the third quarter. Personal CFO Solutions LLC now owns 6,136 shares of the technology company’s stock worth $1,236,000 after acquiring an additional 59 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in Atlassian by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,278 shares of the technology company’s stock worth $4,348,000 after acquiring an additional 62 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 227 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the sale, the chief executive officer now owns 24,723 shares in the company, valued at approximately $4,752,007.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,159 shares of company stock valued at $64,129,051. 40.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TEAM shares. Barclays boosted their price objective on shares of Atlassian from $165.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Mizuho boosted their price objective on shares of Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Wells Fargo & Company boosted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, KeyCorp assumed coverage on shares of Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $225.19.

Atlassian Trading Up 0.6 %

NASDAQ TEAM traded up $1.09 during trading on Thursday, hitting $194.23. The company had a trading volume of 511,837 shares, compared to its average volume of 1,738,497. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company’s fifty day moving average is $214.94 and its 200-day moving average is $207.04.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts expect that Atlassian Co. will post -0.4 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.