Atlassian Co. (NASDAQ:TEAM) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,030 shares of the technology company’s stock after selling 125 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Atlassian were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cigna Investments Inc. New boosted its position in Atlassian by 3.4% during the 2nd quarter. Cigna Investments Inc. New now owns 1,244 shares of the technology company’s stock valued at $233,000 after purchasing an additional 41 shares during the period. Greenleaf Trust boosted its position in Atlassian by 2.2% during the 2nd quarter. Greenleaf Trust now owns 3,291 shares of the technology company’s stock valued at $617,000 after purchasing an additional 71 shares during the period. E Fund Management Co. Ltd. boosted its position in Atlassian by 6.0% during the 3rd quarter. E Fund Management Co. Ltd. now owns 1,447 shares of the technology company’s stock valued at $305,000 after purchasing an additional 82 shares during the period. Raymond James Trust N.A. boosted its position in Atlassian by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 3,707 shares of the technology company’s stock valued at $781,000 after purchasing an additional 83 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Atlassian by 6.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,405 shares of the technology company’s stock valued at $263,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 45.50% of the company’s stock.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $122.27, for a total value of $1,053,233.78. Following the transaction, the chief executive officer now directly owns 508,226 shares in the company, valued at approximately $62,140,793.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $122.27, for a total value of $1,053,233.78. Following the transaction, the chief executive officer now directly owns 508,226 shares in the company, valued at approximately $62,140,793.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 2,195 shares of Atlassian stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $164.83, for a total value of $361,801.85. Following the completion of the transaction, the chief technology officer now owns 111,938 shares in the company, valued at $18,450,740.54. The disclosure for this sale can be found here. Insiders have sold 255,487 shares of company stock worth $39,655,517 in the last three months. 43.11% of the stock is currently owned by insiders.

Atlassian Stock Performance

TEAM opened at $158.25 on Friday. Atlassian Co. has a one year low of $113.86 and a one year high of $318.64. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s fifty day moving average is $163.06 and its 200-day moving average is $170.98.

Atlassian (NASDAQ:TEAM – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.33). Atlassian had a negative return on equity of 73.57% and a negative net margin of 11.17%. The firm had revenue of $872.70 million during the quarter, compared to the consensus estimate of $842.45 million. On average, equities research analysts forecast that Atlassian Co. will post -0.84 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TEAM. Robert W. Baird reduced their price objective on Atlassian from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, December 22nd. BMO Capital Markets cut their target price on Atlassian from $160.00 to $151.00 in a research note on Tuesday, November 29th. StockNews.com initiated coverage on Atlassian in a research note on Thursday. They set a “hold” rating on the stock. Piper Sandler lifted their target price on Atlassian from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Finally, Morgan Stanley cut their target price on Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $218.11.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.