Wealth Alliance Sells 72 Shares of Atlassian Co. (NASDAQ:TEAM)

Wealth Alliance lessened its stake in Atlassian Co. (NASDAQ:TEAMFree Report) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,878 shares of the technology company’s stock after selling 72 shares during the period. Wealth Alliance’s holdings in Atlassian were worth $378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Carmel Capital Partners LLC boosted its holdings in shares of Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Atlassian by 3.5% during the 3rd quarter. D.A. Davidson & CO. now owns 2,184 shares of the technology company’s stock valued at $440,000 after acquiring an additional 74 shares during the period. MetLife Investment Management LLC increased its stake in shares of Atlassian by 0.9% in the 2nd quarter. MetLife Investment Management LLC now owns 8,894 shares of the technology company’s stock worth $1,493,000 after purchasing an additional 75 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Atlassian by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,296 shares of the technology company’s stock worth $553,000 after purchasing an additional 81 shares during the period. Finally, Advisor OS LLC lifted its position in Atlassian by 1.5% during the third quarter. Advisor OS LLC now owns 5,786 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 84 shares in the last quarter. 53.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the topic of several recent research reports. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Truist Financial increased their price objective on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Piper Sandler decreased their price objective on shares of Atlassian from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Finally, Scotiabank initiated coverage on Atlassian in a research note on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.19.

Check Out Our Latest Stock Analysis on Atlassian

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $218.76 on Monday. The company has a market capitalization of $56.75 billion, a price-to-earnings ratio of -146.82 and a beta of 0.70. The firm’s 50-day moving average is $229.40 and its 200 day moving average is $204.18. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total value of $843,463.20. Following the transaction, the president now owns 181,599 shares of the company’s stock, valued at approximately $33,590,367.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $189.63, for a total transaction of $1,562,740.83. Following the transaction, the chief executive officer now directly owns 131,856 shares in the company, valued at approximately $25,003,853.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total value of $843,463.20. Following the completion of the sale, the president now owns 181,599 shares of the company’s stock, valued at $33,590,367.03. The disclosure for this sale can be found here. In the last three months, insiders sold 313,388 shares of company stock valued at $67,804,104. Insiders own 40.48% of the company’s stock.

Atlassian Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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