Great Valley Advisor Group Inc. Lowers Stake in Atlassian Co. (NASDAQ:TEAM)

Great Valley Advisor Group Inc. trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,750 shares of the technology company’s stock after selling 277 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Atlassian were worth $416,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TEAM. OFI Invest Asset Management acquired a new stake in Atlassian during the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC grew its position in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. Operose Advisors LLC acquired a new position in shares of Atlassian during the 3rd quarter valued at $99,000. Finally, GAMMA Investing LLC bought a new stake in shares of Atlassian in the 4th quarter worth $107,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEAM. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Monday, April 29th. TD Cowen lowered their target price on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Piper Sandler cut their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $223.22.

Atlassian Stock Performance

Atlassian stock opened at $183.52 on Monday. The business has a 50 day simple moving average of $197.23 and a 200 day simple moving average of $206.07. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. Research analysts anticipate that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 227 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $209.45, for a total value of $1,726,077.45. Following the completion of the sale, the chief executive officer now owns 296,676 shares in the company, valued at $62,138,788.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 300,450 shares of company stock worth $60,110,850. 40.48% of the stock is currently owned by insiders.

Atlassian 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.