Atria Investments Inc decreased its position in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,208 shares of the technology company’s stock after selling 3,849 shares during the period. Atria Investments Inc’s holdings in Atlassian were worth $1,314,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC increased its position in Atlassian by 32.1% during the fourth quarter. Kestra Advisory Services LLC now owns 14,078 shares of the technology company’s stock worth $1,812,000 after buying an additional 3,422 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Atlassian by 66.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,300 shares of the technology company’s stock valued at $1,711,000 after purchasing an additional 5,300 shares during the period. Wedbush Securities Inc. increased its holdings in shares of Atlassian by 7.5% in the fourth quarter. Wedbush Securities Inc. now owns 8,900 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 620 shares during the period. Sustainable Growth Advisers LP acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $3,362,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Atlassian by 7.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,767 shares of the technology company’s stock valued at $6,404,000 after purchasing an additional 3,314 shares during the period. Institutional investors and hedge funds own 45.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Atlassian from $150.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Piper Sandler boosted their target price on Atlassian from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. StockNews.com initiated coverage on Atlassian in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Finally, 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 research note on Friday, April 14th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $218.15.
Atlassian Price Performance
Atlassian (NASDAQ:TEAM – Get Rating) last issued its quarterly earnings data 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 company had revenue of $872.70 million during the quarter, compared to analysts’ expectations of $842.45 million. On average, research analysts predict that Atlassian Co. will post -0.84 EPS for the current year.
Insider Activity
In related news, insider Gene Liu sold 238 shares of the company’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $180.79, for a total value of $43,028.02. Following the completion of the transaction, the insider now directly owns 50,413 shares in the company, valued at $9,114,166.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gene Liu sold 238 shares of the company’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $180.79, for a total value of $43,028.02. Following the completion of the transaction, the insider now directly owns 50,413 shares in the company, valued at $9,114,166.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,412 shares of the company’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $180.78, for a total value of $255,261.36. Following the completion of the transaction, the president now owns 134,081 shares of the company’s stock, valued at $24,239,163.18. The disclosure for this sale can be found here. Insiders have sold 272,715 shares of company stock worth $44,663,610 over the last three months. 43.11% of the stock is currently owned by corporate insiders.
Atlassian Profile
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.
Further Reading
- Get a free copy of the StockNews.com research report on Atlassian (TEAM)
- ASML Reports Massive Growth, Management Points To Sluggish 2023
- Will Analyst Boost Send Lockheed Martin Shares Up, Up and Away?
- Mullen Automotive: Is The Bloom Off The Rose?
- Diversified Abbott Laboratories Could Reverse And Move Higher
- Okta Reversal In Progress While Catalysts Approach
Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. (NASDAQ:TEAM – Get Rating).
Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.
