Atlassian Co. (NASDAQ:TEAM) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422 shares of the technology company’s stock after selling 51 shares during the quarter. IFP Advisors Inc’s holdings in Atlassian were worth $103,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TEAM. Point72 Asset Management L.P. increased its holdings in shares of Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian during the third quarter valued at about $57,149,000. Parnassus Investments LLC increased its holdings in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new position in shares of Atlassian during the fourth quarter valued at about $47,469,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares in the company, valued at $54,006,827.16. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,501 shares of company stock worth $75,129,229. Corporate insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. KeyCorp increased their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Canaccord Genuity Group increased their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Trading Down 0.2 %

Shares of NASDAQ:TEAM opened at $273.62 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a market capitalization of $71.69 billion, a price-to-earnings ratio of -204.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average price is $276.03 and its 200-day moving average price is $230.63.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.