Atlassian Co. (NASDAQ:TEAM) Stock Holdings Lessened by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its stake in Atlassian Co. (NASDAQ:TEAM) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,119 shares of the technology company’s stock after selling 347 shares during the quarter. NewEdge Wealth LLC’s holdings in Atlassian were worth $980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Atlassian by 0.8% in the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after buying an additional 112,482 shares during the last quarter. WCM Investment Management LLC increased its holdings in Atlassian by 0.3% in the first quarter. WCM Investment Management LLC now owns 9,532,236 shares of the technology company’s stock worth $1,631,633,000 after buying an additional 28,479 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. BlackRock Inc. increased its holdings in Atlassian by 26.0% in the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after buying an additional 1,561,804 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after buying an additional 63,903 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Down 7.1 %

Shares of TEAM stock opened at $191.84 on Tuesday. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The stock has a fifty day moving average price of $203.83 and a 200 day moving average price of $206.83. 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 (NASDAQ:TEAM) 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). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Research analysts anticipate that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, March 25th. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the completion of the transaction, the chief executive officer now directly owns 24,723 shares of the company’s stock, valued at $4,752,007.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, March 25th. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the completion of the transaction, the chief executive officer now directly owns 24,723 shares of the company’s stock, valued at $4,752,007.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, March 15th. The shares were sold at an average price of $201.05, for a total value of $305,596.00. Following the transaction, the president now directly owns 163,370 shares of the company’s stock, valued at $32,845,538.50. The disclosure for this sale can be found here. Insiders sold a total of 293,159 shares of company stock valued at $62,026,607 over the last ninety days. 40.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Capital One Financial assumed coverage on Atlassian in a report on Monday, December 18th. They issued an “equal weight” rating and a $238.00 price objective on the stock. KeyCorp started coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Truist Financial increased their price target on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Citigroup lowered their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $224.25.

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.