Strengthening Families & Communities LLC Decreases Holdings in Atlassian Co. (NASDAQ:TEAM)

Strengthening Families & Communities LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 57.0% in the 4th quarter, Holdings Channel reports. The fund owned 190 shares of the technology company’s stock after selling 252 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Atlassian were worth $46,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares during the period. State Street Corp raised its holdings in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after acquiring an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after acquiring an additional 131,621 shares in the last quarter. FMR LLC raised its holdings in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after buying an additional 57,911 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of TEAM stock opened at $322.94 on Tuesday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The business’s 50 day moving average price is $265.92 and its 200-day moving average price is $213.45. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its quarterly 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 net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the sale, the director now directly owns 214,596 shares in the company, valued at $52,535,246.76. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 256,705 shares of company stock worth $67,890,023 over the last ninety days. 38.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TEAM has been the topic of a number of research reports. Raymond James reissued an “outperform” rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Morgan Stanley raised their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Piper Sandler raised their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. KeyCorp raised their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Cantor Fitzgerald raised their price objective on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Atlassian 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.