Kingswood Wealth Advisors LLC Lowers Stake in Atlassian Co. (NASDAQ:TEAM)

Kingswood Wealth Advisors LLC reduced its stake in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 56.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,148 shares of the technology company’s stock after selling 1,506 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Atlassian were worth $273,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Atlassian by 12.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the period. American Century Companies Inc. boosted its stake in shares of Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the period. Royal Bank of Canada boosted its stake in shares of Atlassian by 17.3% during the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the period. Prudential PLC boosted its stake in shares of Atlassian by 5.4% during the third quarter. Prudential PLC now owns 2,988 shares of the technology company’s stock valued at $602,000 after purchasing an additional 154 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Atlassian by 0.8% in the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock valued at $2,992,720,000 after acquiring an additional 112,482 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $221.40, for a total transaction of $1,824,557.40. Following the transaction, the chief executive officer now owns 477,978 shares in the company, valued at approximately $105,824,329.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $221.40, for a total transaction of $1,824,557.40. Following the transaction, the chief executive officer now owns 477,978 shares in the company, valued at approximately $105,824,329.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $201.05, for a total value of $305,596.00. Following the transaction, the president now owns 163,370 shares in the company, valued at approximately $32,845,538.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,159 shares of company stock worth $63,767,765. Corporate insiders own 40.48% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $195.11 on Friday. The business’s 50 day moving average price is $213.10 and its 200 day moving average price is $206.82. The firm has a market cap of $50.61 billion, a P/E ratio of -130.95 and a beta of 0.64. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAMGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, sell-side analysts expect that Atlassian Co. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent research reports. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Capital One Financial initiated coverage on Atlassian in a report on Monday, December 18th. They issued an “equal weight” rating and a $238.00 price objective for the company. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Scotiabank initiated coverage on Atlassian in a report on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price objective for the company. Finally, UBS Group decreased their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $225.19.

View Our Latest Analysis on Atlassian

Atlassian Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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