Gulf International Bank UK Ltd Cuts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Gulf International Bank UK Ltd lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,904 shares of the technology company’s stock after selling 112 shares during the period. Gulf International Bank UK Ltd’s holdings in Atlassian were worth $2,897,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Allworth Financial LP grew its position in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after purchasing an additional 47 shares during the last quarter. GAMMA Investing LLC grew its position in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares during the last quarter. Venturi Wealth Management LLC grew its position in Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after purchasing an additional 56 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock worth $963,000 after purchasing an additional 59 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% during 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 last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $284.26 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average of $274.71 and a two-hundred day moving average of $226.71. The stock has a market capitalization of $74.48 billion, a PE ratio of -212.13 and a beta of 0.87. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total transaction of $2,303,091.96. Following the completion of the sale, the director now owns 182,804 shares of the company’s stock, valued at $52,971,115.08. This represents a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock valued at $75,853,687 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEAM. KeyCorp boosted their target price 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. Macquarie lifted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.