UniSuper Management Pty Ltd Trims Holdings in Atlassian Co. (NASDAQ:TEAM)

UniSuper Management Pty Ltd decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 16.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,100 shares of the technology company’s stock after selling 600 shares during the period. UniSuper Management Pty Ltd’s holdings in Atlassian were worth $754,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter worth approximately $27,000. Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. raised its position in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Atlassian during the 4th quarter worth $49,000. Finally, True Wealth Design LLC grew its position in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

TEAM opened at $212.21 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $55.60 billion, a price-to-earnings ratio of -158.36 and a beta of 0.91. The stock has a fifty day simple moving average of $268.47 and a two-hundred day simple moving average of $239.44. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued 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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24. Following the completion of the transaction, the chief executive officer now directly owns 7,948 shares in the company, valued at $1,721,775.24. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph Leo Binz sold 2,587 shares of Atlassian stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the transaction, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,033 shares of company stock valued at $70,403,022. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group upped their price objective on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Oppenheimer upped their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.73.

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.