Dynamic Technology Lab Private Ltd Sells 6,600 Shares of Atlassian Co. (NASDAQ:TEAM)

Dynamic Technology Lab Private Ltd lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 54.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,553 shares of the technology company’s stock after selling 6,600 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Atlassian were worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the fourth quarter worth about $27,000. Summit Securities Group LLC purchased a new stake in shares of Atlassian during the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian in the 4th quarter worth approximately $39,000. Avion Wealth lifted its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the period. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

NASDAQ TEAM opened at $187.67 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a fifty day moving average of $264.05 and a 200-day moving average of $240.16. The company has a market capitalization of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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, equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. 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 stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $254.95, for a total value of $2,026,342.60. Following the sale, the chief executive officer now owns 460,984 shares of the company’s stock, valued at $117,527,870.80. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,981 shares of company stock valued at $71,914,254 over the last quarter. 38.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research reports. The Goldman Sachs Group boosted their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Canaccord Genuity Group upped their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Piper Sandler increased their target price on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley lifted their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Nine 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 a consensus price target of $308.73.

Atlassian Company 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.