Level Four Advisory Services LLC Sells 132 Shares of Atlassian Co. (NASDAQ:TEAM)

Level Four Advisory Services LLC trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,548 shares of the technology company’s stock after selling 132 shares during the period. Level Four Advisory Services LLC’s holdings in Atlassian were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in Atlassian by 168.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock valued at $1,631,000 after acquiring an additional 6,440 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Atlassian by 169.0% in the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company’s stock valued at $2,861,000 after purchasing an additional 11,320 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Atlassian by 17.3% during the third quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company’s stock valued at $4,824,000 after buying an additional 4,479 shares during the last quarter. FMR LLC boosted its position in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after buying an additional 150,237 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in Atlassian by 16.0% during the third quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company’s stock worth $212,000 after buying an additional 185 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Mizuho boosted their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Stephens initiated coverage on shares of Atlassian in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective for the company. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald upped their target price on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $217.99 on Friday. The stock has a fifty day moving average of $269.28 and a 200-day moving average of $238.60. The stock has a market cap of $57.11 billion, a PE ratio of -162.68 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 earnings results 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72. Following the completion of the transaction, the director now directly owns 23,844 shares of the company’s stock, valued at $5,475,536.16. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,033 shares of company stock valued at $70,644,164. Company insiders own 38.55% of the company’s stock.

Atlassian 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.