D.A. Davidson & CO. Lowers Stock Position in Atlassian Co. (NASDAQ:TEAM)

D.A. Davidson & CO. trimmed its stake in Atlassian Co. (NASDAQ:TEAM) by 6.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,311 shares of the technology company’s stock after selling 83 shares during the period. D.A. Davidson & CO.’s holdings in Atlassian were worth $319,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the period. State Street Corp raised its holdings in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the period. JPMorgan Chase & Co. lifted its stake in Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after acquiring an additional 131,621 shares in the last quarter. FMR LLC boosted its holdings in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares during the period. Finally, Geode Capital Management LLC grew its position in Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after acquiring an additional 57,911 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the transaction, the chief executive officer now owns 421,244 shares in the company, valued at $99,788,491.16. The trade was a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now directly owns 199,934 shares of the company’s stock, valued at $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock valued at $75,651,410 in the last ninety days. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Up 1.6 %

TEAM opened at $288.76 on Thursday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $75.66 billion, a P/E ratio of -215.49 and a beta of 0.87. The business’s 50-day simple moving average is $273.39 and its 200-day simple moving average is $225.91.

Atlassian (NASDAQ:TEAM) last released its quarterly 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 return on equity of 17.37% and a negative net margin of 7.22%. Analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several recent research reports. Citigroup raised their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. KeyCorp increased their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Macquarie boosted their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Robert W. Baird upped their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.