Ceera Investments LLC Trims Stake in Atlassian Co. (NASDAQ:TEAM)

Ceera Investments LLC lowered its stake in Atlassian Co. (NASDAQ:TEAM) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,598 shares of the technology company’s stock after selling 330 shares during the quarter. Atlassian makes up about 2.2% of Ceera Investments LLC’s holdings, making the stock its 15th biggest position. Ceera Investments LLC’s holdings in Atlassian were worth $6,473,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avion Wealth lifted its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC purchased a new position in shares of Atlassian during the 4th quarter worth $49,000. True Wealth Design LLC lifted its stake 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 period. Finally, Kestra Investment Management LLC purchased a new position in shares of Atlassian during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $238.86 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $276.11 and a two-hundred day moving average of $232.17. The stock has a market cap of $62.58 billion, a P/E ratio of -178.25 and a beta of 0.91. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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%. On average, research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the transaction, the president now owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the transaction, the director now directly owns 111,272 shares in the company, valued at $29,971,113.20. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,501 shares of company stock valued at $74,977,422 in the last ninety days. Insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TEAM shares. Jefferies Financial Group increased their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Cantor Fitzgerald increased their price target on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Raymond James restated 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. Finally, UBS Group upped their price objective on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $319.71.

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.