Synergy Financial Group LTD Cuts Position in Atlassian Co. (NASDAQ:TEAM)

Synergy Financial Group LTD lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 12.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,105 shares of the technology company’s stock after selling 286 shares during the period. Synergy Financial Group LTD’s holdings in Atlassian were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Allworth Financial LP grew its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $71,000 after acquiring an additional 54 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Atlassian by 4.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after acquiring an additional 56 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock worth $963,000 after purchasing an additional 59 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Atlassian by 23.2% in the 3rd 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. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on TEAM. Barclays lifted their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho boosted their price target on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Oppenheimer raised their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research report 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, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Down 0.7 %

Shares of Atlassian stock opened at $284.06 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $273.10 and a 200 day moving average price of $224.90. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $74.42 billion, a P/E ratio of -211.98 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, CFO Joseph Leo Binz sold 2,587 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the sale, the chief financial officer now owns 169,342 shares in the company, valued at approximately $52,849,944.78. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48. Following the transaction, the chief executive officer now owns 214,596 shares of the company’s stock, valued at approximately $63,844,455.96. This represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,501 shares of company stock worth $75,480,290. 38.55% of the stock is currently owned by insiders.

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.