DGS Capital Management LLC Sells 391 Shares of Atlassian Co. (NASDAQ:TEAM)

DGS Capital Management LLC lowered its holdings in Atlassian Co. (NASDAQ:TEAM) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,589 shares of the technology company’s stock after selling 391 shares during the quarter. DGS Capital Management LLC’s holdings in Atlassian were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter worth $48,000. Quarry LP raised its holdings in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of 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. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TEAM. Mizuho upped their price objective on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley upped their target price on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Robert W. Baird lifted 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. UBS Group upped their price objective on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.19.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $188.64, for a total transaction of $1,499,310.72. Following the completion of the sale, the chief executive officer now owns 349,712 shares in the company, valued at approximately $65,969,671.68. This trade represents a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 272,188 shares of company stock valued at $67,421,558. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $264.81 on Friday. The firm has a market capitalization of $68.97 billion, a P/E ratio of -174.22 and a beta of 0.83. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $257.68 and a 200-day moving average price of $204.80.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.07) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts forecast that Atlassian Co. will post -0.55 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.