Atlassian Co. (NASDAQ:TEAM) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,394 shares of the technology company’s stock after selling 444 shares during the quarter. Corient Private Wealth LLC’s holdings in Atlassian were worth $1,313,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TEAM. True Wealth Design LLC lifted 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 purchasing an additional 231 shares in the last quarter. Avion Wealth lifted its stake in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Assetmark Inc. boosted its holdings in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares during the period. Mainstream Capital Management LLC acquired a new position in Atlassian in the 4th quarter valued at about $49,000. Finally, Kestra Investment Management LLC purchased a new stake in Atlassian during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other Atlassian news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60. Following the completion of the transaction, the chief executive officer now directly owns 23,844 shares in the company, valued at approximately $6,090,949.80. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,033 shares of company stock valued at $70,849,302. Insiders own 38.55% of the company’s stock.

Atlassian Stock Up 0.7 %

Atlassian stock opened at $236.22 on Wednesday. The stock has a 50-day simple moving average of $271.00 and a 200-day simple moving average of $237.85. The company has a market capitalization of $61.89 billion, a P/E ratio of -176.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEAM. Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Macquarie increased their price objective on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Stephens initiated coverage on Atlassian in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price for the company. Barclays increased their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.77.

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.