Raymond James Financial Services Advisors Inc. Sells 3,306 Shares of Atlassian Co. (NASDAQ:TEAM)

Raymond James Financial Services Advisors Inc. lessened its holdings in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 18.4% in the fourth quarter, Holdings Channel reports. The firm owned 14,628 shares of the technology company’s stock after selling 3,306 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Atlassian were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TEAM. Guinness Atkinson Asset Management Inc purchased a new position in Atlassian in the fourth quarter valued at approximately $30,000. Sonnipe Ltd purchased a new position in shares of Atlassian during the 4th quarter valued at $36,000. Ridgewood Investments LLC bought a new position in shares of Atlassian during the 4th quarter worth $42,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Atlassian by 155.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 330 shares of the technology company’s stock worth $42,000 after acquiring an additional 201 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Atlassian in the 4th quarter valued at about $58,000. 45.50% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Up 0.8 %

TEAM stock opened at $160.64 on Thursday. The firm has a 50 day simple moving average of $153.05 and a two-hundred day simple moving average of $149.42. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.31 and a quick ratio of 1.31. Atlassian Co. has a one year low of $113.86 and a one year high of $300.29.

Atlassian (NASDAQ:TEAM – Get Rating) last released its earnings results on Thursday, May 4th. The technology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The firm had revenue of $915.45 million during the quarter, compared to the consensus estimate of $898.71 million. On average, sell-side analysts anticipate that Atlassian Co. will post -0.83 EPS for the current year.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,614 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $165.55, for a total value of $1,426,047.70. Following the completion of the sale, the chief executive officer now owns 206,736 shares of the company’s stock, valued at $34,225,144.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Enrique T. Salem sold 10,000 shares of Atlassian stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the transaction, the director now owns 124,162 shares in the company, valued at $16,141,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 8,614 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $165.55, for a total value of $1,426,047.70. Following the sale, the chief executive officer now owns 206,736 shares of the company’s stock, valued at $34,225,144.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,726 shares of company stock worth $49,595,254. 43.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Robert W. Baird cut their target price on shares of Atlassian from $190.00 to $175.00 in a research report on Friday, May 5th. The Goldman Sachs Group lowered shares of Atlassian from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $240.00 to $165.00 in a research note on Friday, May 5th. Piper Sandler dropped their target price on Atlassian from $160.00 to $140.00 in a research report on Friday, May 5th. Mizuho reduced their price target on Atlassian from $235.00 to $215.00 in a research report on Friday, May 5th. Finally, Morgan Stanley dropped their price objective on Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.74.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.