Atlassian Co. (NASDAQ:TEAM) Shares Sold by Synergy Financial Group LTD

Synergy Financial Group LTD cut its position in Atlassian Co. (NASDAQ:TEAM) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,105 shares of the technology company’s stock after selling 286 shares during the period. Synergy Financial Group LTD’s holdings in Atlassian were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Hardman Johnston Global Advisors LLC grew its holdings in shares of Atlassian by 0.8% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 528,349 shares of the technology company’s stock valued at $128,590,000 after purchasing an additional 4,421 shares during the period. Y Intercept Hong Kong Ltd raised its stake in Atlassian by 64.2% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 31,292 shares of the technology company’s stock worth $7,616,000 after purchasing an additional 12,239 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Atlassian in the 4th quarter valued at about $2,976,000. Howard Capital Management Inc. grew its stake in shares of Atlassian by 3.2% in the 4th quarter. Howard Capital Management Inc. now owns 4,369 shares of the technology company’s stock valued at $1,063,000 after buying an additional 134 shares during the period. Finally, Fisher Funds Management LTD acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $47,469,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on TEAM shares. Oppenheimer increased their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Mizuho raised their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Scotiabank upped their target price on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 429,192 shares in the company, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gene Liu sold 568 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,501 shares of company stock valued at $75,480,290. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $284.06 on Tuesday. The stock’s 50-day simple moving average is $273.10 and its 200-day simple moving average is $224.90. The firm has a market capitalization of $74.42 billion, a PE ratio of -211.98 and a beta of 0.87. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. 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 (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.