Kingswood Wealth Advisors LLC Trims Stock Position in Atlassian Co. (NASDAQ:TEAM)

Kingswood Wealth Advisors LLC lowered its position in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 56.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,148 shares of the technology company’s stock after selling 1,506 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Atlassian were worth $273,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Atlassian by 12.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after acquiring an additional 8,073 shares in the last quarter. American Century Companies Inc. lifted its position in Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the last quarter. Royal Bank of Canada lifted its position in Atlassian by 17.3% during the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the last quarter. Prudential PLC lifted its position in Atlassian by 5.4% during the third quarter. Prudential PLC now owns 2,988 shares of the technology company’s stock valued at $602,000 after purchasing an additional 154 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Atlassian by 0.8% during the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock valued at $2,992,720,000 after purchasing an additional 112,482 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TEAM shares. KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Wells Fargo & Company lifted their target price on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Capital One Financial started coverage on shares of Atlassian in a report on Monday, December 18th. They issued an “equal weight” rating and a $238.00 price objective for the company. Scotiabank started coverage on shares of Atlassian in a report on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price objective for the company. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $225.19.

Get Our Latest Stock Analysis on TEAM

Atlassian Stock Up 1.0 %

Shares of NASDAQ TEAM opened at $195.11 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The firm’s fifty day moving average is $213.10 and its 200 day moving average is $206.82. The company has a market cap of $50.61 billion, a price-to-earnings ratio of -130.95 and a beta of 0.64.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities research analysts expect that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $194.67, for a total transaction of $1,604,275.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,159 shares of company stock valued at $63,767,765. 40.48% of the stock is currently owned by company insiders.

About Atlassian

(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.

Featured Articles

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.