Atlassian Co. (NASDAQ:TEAM) Shares Sold by Personal CFO Solutions LLC

Personal CFO Solutions LLC trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,452 shares of the technology company’s stock after selling 79 shares during the period. Personal CFO Solutions LLC’s holdings in Atlassian were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TEAM. 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 grew its position in Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Atlassian during the 3rd quarter worth about $57,149,000. Parnassus Investments LLC grew its position in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Atlassian by 12,047.2% during the 4th 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 period. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TEAM. Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Barclays increased their price target on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Jefferies Financial Group increased their target price on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Mizuho increased their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Trading Down 4.7 %

Shares of Atlassian stock opened at $238.86 on Friday. The stock has a market cap of $62.58 billion, a P/E ratio of -178.25 and a beta of 0.91. The stock’s 50 day simple moving average is $276.11 and its 200-day simple moving average is $232.17. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This represents a 0.71 % 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 company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the transaction, the chief executive officer now owns 270,232 shares in the company, valued at $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,501 shares of company stock worth $74,977,422. Insiders own 38.55% of the company’s stock.

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.