Metis Global Partners LLC Sells 467 Shares of Atlassian Co. (NASDAQ:TEAM)

Metis Global Partners LLC cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,563 shares of the technology company’s stock after selling 467 shares during the quarter. Metis Global Partners LLC’s holdings in Atlassian were worth $867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC boosted its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the last quarter. Avion Wealth lifted its position in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Kestra Investment Management LLC purchased a new stake in Atlassian in the fourth quarter worth approximately $56,000. Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the period. Finally, GAMMA Investing LLC raised its stake in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after buying an additional 54 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the completion of the transaction, the chief executive officer now owns 135,116 shares in the company, valued at $37,668,989.64. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,501 shares of company stock valued at $75,129,229. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TEAM shares. Jefferies Financial Group raised their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group raised their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Mizuho upped their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Macquarie raised their price objective on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Raymond James reaffirmed an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Trading Down 0.2 %

Shares of TEAM opened at $273.62 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a 50 day simple moving average of $276.03 and a two-hundred day simple moving average of $230.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $71.69 billion, a P/E ratio of -204.19 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal 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.