Atlassian Co. (NASDAQ:TEAM) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,586 shares of the technology company’s stock after selling 324 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Atlassian were worth $1,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. Point72 Asset Management L.P. lifted its position in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after buying an additional 617,566 shares in the last quarter. Two Sigma Advisers LP lifted its position in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after buying an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Atlassian during the third quarter valued at approximately $57,149,000. Parnassus Investments LLC lifted its position in Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after buying an additional 245,286 shares in the last quarter. Finally, PointState Capital LP acquired a new position in shares of Atlassian during the third quarter worth $30,566,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TEAM shares. KeyCorp boosted their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Sandler boosted their target price on shares of Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Raymond James boosted their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group boosted their target price on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $273.19.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $265.33, for a total transaction of $2,108,842.84. Following the completion of the sale, the chief executive officer now directly owns 365,608 shares of the company’s stock, valued at $97,006,770.64. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,240 shares of company stock worth $65,922,247. Insiders own 38.55% of the company’s stock.

Atlassian Trading Up 1.2 %

Atlassian stock opened at $268.00 on Tuesday. The company has a 50-day simple moving average of $257.68 and a 200-day simple moving average of $205.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. On average, sell-side analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

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.