AE Wealth Management LLC Sells 4,289 Shares of Atlassian Co. (NASDAQ:TEAM)

Posted by Defense World Staff on Apr 19th, 2023

AE Wealth Management LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,847 shares of the technology company’s stock after selling 4,289 shares during the quarter. AE Wealth Management LLC’s holdings in Atlassian were worth $3,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in shares of Atlassian by 40.4% in the fourth quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock worth $983,528,000 after acquiring an additional 2,199,990 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Atlassian by 2.5% in the third quarter. Pacer Advisors Inc. now owns 4,245 shares of the technology company’s stock valued at $894,000 after buying an additional 105 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Atlassian by 64.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,385 shares of the technology company’s stock valued at $693,000 after buying an additional 2,120 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Atlassian by 6.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,521 shares of the technology company’s stock valued at $1,584,000 after buying an additional 452 shares during the last quarter. Finally, Tiger Global Management LLC raised its holdings in shares of Atlassian by 13.2% in the third quarter. Tiger Global Management LLC now owns 1,722,503 shares of the technology company’s stock valued at $362,742,000 after buying an additional 200,703 shares during the last quarter. Institutional investors own 45.50% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,412 shares of Atlassian stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $180.78, for a total transaction of $255,261.36. Following the completion of the sale, the president now owns 134,081 shares of the company’s stock, valued at $24,239,163.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $147.94, for a total transaction of $1,274,355.16. Following the completion of the sale, the chief executive officer now owns 430,700 shares of the company’s stock, valued at $63,717,758. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,412 shares of Atlassian stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $180.78, for a total value of $255,261.36. Following the sale, the president now directly owns 134,081 shares of the company’s stock, valued at approximately $24,239,163.18. The disclosure for this sale can be found here. Insiders sold 281,329 shares of company stock valued at $45,937,965 in the last quarter. 43.11% of the stock is currently owned by insiders.

Atlassian Trading Down 2.5 %

Shares of Atlassian stock opened at $162.32 on Wednesday. The business has a fifty day simple moving average of $164.65 and a two-hundred day simple moving average of $158.89. Atlassian Co. has a 1 year low of $113.86 and a 1 year high of $300.29. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.33). Atlassian had a negative net margin of 11.17% and a negative return on equity of 73.57%. The business had revenue of $872.70 million for the quarter, compared to analyst estimates of $842.45 million. On average, research analysts anticipate that Atlassian Co. will post -0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TEAM. Robert W. Baird cut their price target on Atlassian from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, December 22nd. BMO Capital Markets lifted their price target on Atlassian from $170.00 to $190.00 and gave the company a “market perform” rating in a report on Friday, April 14th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective on shares of Atlassian in a report on Monday. Jefferies Financial Group boosted their price objective on Atlassian from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, January 19th. Finally, Mizuho reduced their price target on Atlassian from $255.00 to $235.00 and set a “buy” rating for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.15.

Atlassian Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.