Motley Fool Wealth Management LLC Sells 5,834 Shares of Atlassian Co. (NASDAQ:TEAM)

Motley Fool Wealth Management LLC reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,588 shares of the technology company’s stock after selling 5,834 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Atlassian were worth $8,906,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Atlassian during the 3rd quarter worth approximately $606,000. Fulton Bank N.A. bought a new stake in shares of Atlassian during the fourth quarter worth $447,000. Paloma Partners Management Co acquired a new stake in shares of Atlassian during the third quarter worth $1,588,000. Allworth Financial LP lifted its position in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Atlassian by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock worth $92,678,000 after purchasing an additional 12,422 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent research reports. Macquarie lifted their price target on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Citigroup boosted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, UBS Group boosted their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the transaction, the director now owns 39,740 shares in the company, valued at $9,314,261.20. This represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,033 shares of company stock valued at $70,849,302. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Atlassian stock opened at $236.22 on Wednesday. The company has a market capitalization of $61.89 billion, a price-to-earnings 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. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock’s 50 day moving average is $271.00 and its 200-day moving average is $237.85.

Atlassian (NASDAQ:TEAM) last issued 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%. Equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

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.