Atlassian Co. (NASDAQ:TEAM) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,731 shares of the technology company’s stock after selling 1,721 shares during the period. Motley Fool Wealth Management LLC’s holdings in Atlassian were worth $11,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc purchased a new stake in Atlassian during the 4th quarter worth $1,308,000. State of New Jersey Common Pension Fund D increased its stake in Atlassian by 2.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 89,064 shares of the technology company’s stock worth $21,185,000 after buying an additional 1,846 shares during the period. Lyell Wealth Management LP increased its stake in Atlassian by 6.9% during the 4th quarter. Lyell Wealth Management LP now owns 19,683 shares of the technology company’s stock worth $4,682,000 after buying an additional 1,276 shares during the period. Atria Wealth Solutions Inc. increased its stake in Atlassian by 3.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,885 shares of the technology company’s stock worth $448,000 after buying an additional 59 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Atlassian by 11.2% during the 4th quarter. Yousif Capital Management LLC now owns 1,561 shares of the technology company’s stock worth $371,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

Atlassian stock traded down $18.96 during midday trading on Friday, reaching $179.45. 5,866,981 shares of the stock traded hands, compared to its average volume of 1,427,391. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average price of $199.98 and a two-hundred day moving average price of $206.54. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. As a group, research analysts expect that Atlassian Co. will post -0.42 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 4,139 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the sale, the president now directly owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16. Following the sale, the chief executive officer now directly owns 329,640 shares in the company, valued at approximately $82,990,166.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 4,139 shares of the business’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 $881,068.93. Following the completion of the sale, the president now owns 167,535 shares in the company, valued at $35,663,175.45. The disclosure for this sale can be found here. In the last three months, insiders sold 300,450 shares of company stock valued at $61,721,553. Company insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Oppenheimer dropped their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. KeyCorp initiated coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. The Goldman Sachs Group lifted their price target on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Robert W. Baird decreased their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a report on Friday. Finally, TD Cowen decreased their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $223.22.

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.