Atlassian Co. (NASDAQ:TEAM) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,394 shares of the technology company’s stock after selling 444 shares during the quarter. Corient Private Wealth LLC’s holdings in Atlassian were worth $1,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. increased its position in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after purchasing an additional 226,246 shares during the last quarter. Fisher Funds Management LTD acquired a new stake in shares of Atlassian during the fourth quarter worth about $47,469,000. Finally, PointState Capital LP purchased a new stake in Atlassian in the third quarter valued at approximately $30,566,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TEAM shares. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Barclays boosted their price objective on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group boosted their price target on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $316.77.

Atlassian Stock Performance

TEAM opened at $236.22 on Wednesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm has a market capitalization of $61.89 billion, a PE ratio of -176.28 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $271.00 and its 200 day moving average price is $237.85.

Atlassian (NASDAQ:TEAM) last issued 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%. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Joseph Leo Binz sold 2,587 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $255.45, for a total value of $2,030,316.60. Following the sale, the chief executive officer now directly owns 23,844 shares of the company’s stock, valued at approximately $6,090,949.80. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock valued at $70,849,302 in the last three months. 38.55% of the stock is currently owned by insiders.

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.