Farther Finance Advisors LLC Sells 389 Shares of Atlassian Co. (NASDAQ:TEAM)

Farther Finance Advisors LLC reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 59.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 268 shares of the technology company’s stock after selling 389 shares during the quarter. Farther Finance Advisors LLC’s holdings in Atlassian were worth $65,000 as of its most recent SEC filing.

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

Atlassian Stock Up 0.5 %

Shares of NASDAQ TEAM opened at $227.34 on Friday. The stock has a market cap of $59.56 billion, a PE ratio of -169.66 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a 50-day moving average of $271.24 and a 200 day moving average of $236.29.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on TEAM shares. Wells Fargo & Company lifted their target price on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Cantor Fitzgerald boosted their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $316.77.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $71,015,177 over the last three months. 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.