Lyell Wealth Management LP Sells 2,684 Shares of Atlassian Co. (NASDAQ:TEAM)

Lyell Wealth Management LP lowered its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 21.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,967 shares of the technology company’s stock after selling 2,684 shares during the period. Lyell Wealth Management LP’s holdings in Atlassian were worth $2,426,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Atlassian during the third quarter worth $606,000. Sequoia Financial Advisors LLC boosted its stake in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares in the last quarter. Fulton Bank N.A. acquired a new stake in Atlassian during the fourth quarter worth $447,000. Paloma Partners Management Co acquired a new stake in Atlassian during the third quarter worth $1,588,000. Finally, Impax Asset Management Group plc boosted its stake in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $311.90, for a total value of $2,478,981.20. Following the sale, the chief executive officer now directly owns 238,440 shares of the company’s stock, valued at approximately $74,369,436. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 265,830 shares of company stock valued at $72,193,305 in the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Stock Up 0.7 %

Shares of TEAM stock opened at $315.44 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $270.89 and a 200-day moving average of $219.37. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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 17.37%. Analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Jefferies Financial Group boosted their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian 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.