Farther Finance Advisors LLC Decreases Stake in Atlassian Co. (NASDAQ:TEAM)

Farther Finance Advisors LLC decreased its stake in Atlassian Co. (NASDAQ:TEAM) by 59.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268 shares of the technology company’s stock after selling 389 shares during the period. Farther Finance Advisors LLC’s holdings in Atlassian were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TEAM. Assetmark Inc. lifted its stake in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after purchasing an additional 47 shares during the period. GAMMA Investing LLC lifted its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after buying an additional 56 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in shares of Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of several analyst reports. Stephens assumed coverage on Atlassian in a research report on Wednesday. They issued an “equal weight” rating and a $255.00 target price on the stock. Jefferies Financial Group increased their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Macquarie upped their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Barclays raised their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64. Following the transaction, the chief executive officer now owns 55,636 shares of the company’s stock, valued at approximately $12,625,477.48. This trade represents a 12.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,033 shares of company stock worth $71,015,177. 38.55% of the stock is owned by corporate insiders.

Atlassian Price Performance

TEAM stock opened at $227.34 on Friday. The company has a market capitalization of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The business has a 50-day simple moving average of $271.24 and a two-hundred day simple moving average of $236.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

About Atlassian

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.