Principal Securities Inc. Sells 227 Shares of Atlassian Co. (NASDAQ:TEAM)

Principal Securities Inc. decreased its holdings in Atlassian Co. (NASDAQ:TEAM) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 960 shares of the technology company’s stock after selling 227 shares during the quarter. Principal Securities Inc.’s holdings in Atlassian were worth $234,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Atlassian by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company’s stock worth $963,000 after acquiring an additional 83 shares in the last quarter. Finally, Commerce Bank increased its position in shares of Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several recent research reports. Canaccord Genuity Group boosted their target price 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. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Scotiabank boosted their target price on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Finally, Macquarie boosted 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. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Stock Down 4.2 %

Atlassian stock opened at $285.99 on Monday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm has a 50 day moving average price of $272.98 and a 200-day moving average price of $223.88. The company has a market capitalization of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $297.51, for a total transaction of $2,364,609.48. Following the sale, the chief executive officer now owns 214,596 shares in the company, valued at $63,844,455.96. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,501 shares of company stock worth $75,480,290. 38.55% of the stock is owned by corporate insiders.

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.