Financial Advocates Investment Management Sells 209 Shares of Atlassian Co. (NASDAQ:TEAM)

Financial Advocates Investment Management lowered its position in Atlassian Co. (NASDAQ:TEAM) by 16.0% during the 4th quarter, Holdings Channel reports. The fund owned 1,100 shares of the technology company’s stock after selling 209 shares during the period. Financial Advocates Investment Management’s holdings in Atlassian were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TEAM. GAMMA Investing LLC grew its position in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. CWM LLC lifted its stake in shares of Atlassian by 270.6% in the third quarter. CWM LLC now owns 7,875 shares of the technology company’s stock valued at $1,251,000 after buying an additional 5,750 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Atlassian by 227.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,214 shares of the technology company’s stock valued at $193,000 after buying an additional 843 shares during the last quarter. Creative Planning increased its position in shares of Atlassian by 32.3% during the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock worth $1,262,000 after acquiring an additional 1,941 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Atlassian by 4.2% in the 3rd quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock worth $10,090,000 after acquiring an additional 2,539 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $314.28 on Monday. The stock has a market capitalization of $82.34 billion, a P/E ratio of -234.54 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $324.37. The stock has a 50-day moving average price of $265.92 and a 200 day moving average price of $213.13.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68. Following the sale, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $93,783,777.16. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 256,705 shares of company stock valued at $67,890,023. Company insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TEAM shares. Robert W. Baird boosted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Morgan Stanley raised their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Scotiabank upped their price objective 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, Raymond James restated an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian 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.