B. Riley Wealth Advisors Inc. Sells 1,257 Shares of Atlassian Co. (NASDAQ:TEAM)

B. Riley Wealth Advisors Inc. trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 41.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,741 shares of the technology company’s stock after selling 1,257 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Atlassian were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares during the period. Operose Advisors LLC bought a new stake in shares of Atlassian during the third quarter valued at approximately $99,000. GAMMA Investing LLC purchased a new stake in Atlassian in the fourth quarter worth $107,000. Finally, Hennessy Advisors Inc. bought a new position in Atlassian in the fourth quarter worth $136,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Wells Fargo & Company cut their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial decreased their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Oppenheimer cut their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, KeyCorp started coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Ten equities research 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 has an average rating of “Moderate Buy” and a consensus price target of $221.28.

Atlassian Price Performance

NASDAQ TEAM opened at $164.75 on Tuesday. The company has a 50-day moving average price of $173.97 and a 200-day moving average price of $202.28. Atlassian Co. has a 52 week low of $152.34 and a 52 week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $42.88 billion, a P/E ratio of -261.51 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm earned ($0.40) earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. Equities research analysts anticipate that Atlassian Co. will post -0.21 earnings per share for the current year.

Insider Activity at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76. Following the transaction, the chief executive officer now owns 432,378 shares of the company’s stock, valued at $89,657,902.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Gene Liu sold 199 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the completion of the transaction, the chief accounting officer now owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $207.36, for a total value of $1,708,853.76. Following the sale, the chief executive officer now directly owns 432,378 shares in the company, valued at approximately $89,657,902.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,785 shares of company stock worth $49,308,467. Corporate insiders own 40.48% of the company’s stock.

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.