Motley Fool Asset Management LLC Sells 29,709 Shares of Atlassian Co. (NASDAQ:TEAM)

Motley Fool Asset Management LLC reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,896 shares of the technology company’s stock after selling 29,709 shares during the period. Motley Fool Asset Management LLC’s holdings in Atlassian were worth $10,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in shares of Atlassian during the third quarter valued at about $26,000. Carmel Capital Partners LLC boosted its holdings in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares during the last quarter. Operose Advisors LLC purchased a new position in Atlassian during the third quarter worth about $99,000. Finally, GAMMA Investing LLC purchased a new position in Atlassian during the fourth quarter worth about $107,000. 93.03% of the stock is owned by institutional investors.

Atlassian Stock Down 0.3 %

Shares of Atlassian stock traded down $0.60 during trading on Thursday, hitting $198.41. The company’s stock had a trading volume of 1,921,415 shares, compared to its average volume of 1,690,192. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a fifty day simple moving average of $200.55 and a two-hundred day simple moving average of $206.69. The company has a market capitalization of $51.47 billion, a PE ratio of -133.16 and a beta of 0.63. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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 firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Equities research analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TEAM shares. William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Truist Financial boosted their target price on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Mizuho dropped their target price on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Citigroup dropped their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, UBS Group dropped their target price on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Hold” and an average price target of $224.25.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the sale, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,691 shares of company stock worth $63,759,882. 40.48% of the stock is owned by corporate insiders.

About Atlassian

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.