Janney Montgomery Scott LLC Sells 530 Shares of Atlassian Co. (NASDAQ:TEAM)

Janney Montgomery Scott LLC cut its stake in Atlassian Co. (NASDAQ:TEAM) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,958 shares of the technology company’s stock after selling 530 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Atlassian were worth $3,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TEAM. GAMMA Investing LLC boosted its stake in Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after acquiring an additional 54 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the period. Commerce Bank increased its position in Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after buying an additional 90 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after purchasing an additional 111 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TEAM. Jefferies Financial Group upped their target price on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler lifted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a report on Friday. Finally, Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $307.00.

Atlassian Trading Up 14.9 %

Shares of NASDAQ:TEAM opened at $306.78 on Friday. The company has a market capitalization of $79.89 billion, a PE ratio of -201.83 and a beta of 0.83. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $324.37. The business has a 50 day moving average of $260.51 and a two-hundred day moving average of $208.06. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. As a group, analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the sale, the president now owns 213,511 shares of the company’s stock, valued at approximately $52,483,138.91. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the completion of the transaction, the director now directly owns 309,972 shares in the company, valued at $67,905,566.04. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,156 shares of company stock worth $65,313,573 over the last 90 days. 38.55% of the stock is currently owned by company 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.