Blue Trust Inc. Sells 371 Shares of Atlassian Co. (NASDAQ:TEAM)

Blue Trust Inc. decreased its holdings in Atlassian Co. (NASDAQ:TEAM) by 55.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300 shares of the technology company’s stock after selling 371 shares during the period. Blue Trust Inc.’s holdings in Atlassian were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth boosted its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Atlassian in the third quarter valued at $48,000. Brown Brothers Harriman & Co. boosted its holdings in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Atlassian by 22.9% in 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 during the period. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TEAM. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial reissued a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley increased their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $261.73, for a total transaction of $2,080,230.04. Following the transaction, the chief executive officer now directly owns 174,856 shares in the company, valued at approximately $45,765,060.88. This represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph Leo Binz sold 2,587 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the transaction, the chief financial officer now owns 169,342 shares in the company, valued at $52,849,944.78. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,501 shares of company stock worth $75,480,290 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of TEAM opened at $285.99 on Monday. The firm has a fifty day moving average price of $272.98 and a 200 day moving average price of $223.88. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. 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 stock has a market cap of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Atlassian Company 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.