Financial Advocates Investment Management Sells 209 Shares of Atlassian Co. (NASDAQ:TEAM)

Financial Advocates Investment Management trimmed its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,100 shares of the technology company’s stock after selling 209 shares during the quarter. Financial Advocates Investment Management’s holdings in Atlassian were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Atlassian during the third quarter worth approximately $48,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of Atlassian by 66.8% in the fourth quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock valued at $123,000 after purchasing an additional 203 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of Atlassian stock opened at $314.28 on Monday. The company’s 50 day moving average price is $265.92 and its two-hundred day moving average price is $213.13. The firm has a market capitalization of $82.34 billion, a P/E ratio of -234.54 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37.

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

Insider Activity

In other news, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares in the company, valued at $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 256,705 shares of company stock valued at $67,890,023 over the last quarter. 38.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Barclays boosted their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Sandler lifted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $319.71.

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.