Atlassian Co. (NASDAQ:TEAM) Shares Sold by IFP Advisors Inc

IFP Advisors Inc cut its stake in Atlassian Co. (NASDAQ:TEAM) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 422 shares of the technology company’s stock after selling 51 shares during the quarter. IFP Advisors Inc’s holdings in Atlassian were worth $103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avion Wealth increased its stake in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares during the last quarter. True Wealth Design LLC increased its position 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 purchasing an additional 231 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Atlassian during the 4th quarter worth about $56,000. GAMMA Investing LLC increased its position in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays raised their price objective on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Scotiabank raised their price objective on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $278.61, for a total value of $2,214,392.28. Following the transaction, the director now directly owns 166,908 shares in the company, valued at approximately $46,502,237.88. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,501 shares of company stock worth $75,129,229 over the last 90 days. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

TEAM stock opened at $273.62 on Wednesday. The business has a 50 day moving average price of $276.03 and a 200 day moving average price of $230.63. The stock has a market cap of $71.69 billion, a price-to-earnings ratio of -204.19 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 quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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 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%. Equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.