Atlassian Co. (NASDAQ:TEAM) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,359 shares of the technology company’s stock after selling 2,713 shares during the period. Atlassian makes up 1.2% of Stanley Laman Group Ltd.’s portfolio, making the stock its 10th biggest position. Stanley Laman Group Ltd.’s holdings in Atlassian were worth $8,606,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Avion Wealth grew its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new position in Atlassian during the 4th quarter worth $577,000. Stonebridge Financial Group LLC acquired a new position in Atlassian during the 4th quarter worth $290,000. Essex Financial Services Inc. grew its holdings in Atlassian by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 1,244 shares of the technology company’s stock worth $303,000 after acquiring an additional 122 shares in the last quarter. Finally, Powell Investment Advisors LLC bought a new position in shares of Atlassian in the 4th quarter worth about $290,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. KeyCorp raised their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group raised their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald raised their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Stock Up 1.1 %

Atlassian stock opened at $318.45 on Thursday. The firm’s 50 day simple moving average is $267.99 and its 200-day simple moving average is $215.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. Analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the transaction, the chief executive officer now owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,653 shares of company stock worth $70,451,743 over the last ninety days. 38.55% of the stock is currently owned by insiders.

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.