One Wealth Advisors LLC Decreases Stake in Atlassian Co. (NASDAQ:TEAM)

One Wealth Advisors LLC cut its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,130 shares of the technology company’s stock after selling 300 shares during the period. One Wealth Advisors LLC’s holdings in Atlassian were worth $762,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of 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 acquiring an additional 82 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Atlassian by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company’s stock valued at $963,000 after acquiring an additional 83 shares during the last quarter. Finally, Commerce Bank lifted its stake in Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gene Liu sold 445 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00. Following the sale, the chief accounting officer now directly owns 58,723 shares of the company’s stock, valued at $13,506,290. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,208 shares of company stock valued at $63,572,404 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $306.78 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a 50 day moving average price of $260.51 and a 200 day moving average price of $208.44. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $324.37.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. On average, sell-side analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TEAM shares. Jefferies Financial Group raised their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Macquarie initiated coverage on shares of Atlassian in a research note on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target on the stock. Wells Fargo & Company increased their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird boosted their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $307.00.

Atlassian Company 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.