Oak Thistle LLC Sells 3,686 Shares of Atlassian Co. (NASDAQ:TEAM)

Oak Thistle LLC cut its stake in Atlassian Co. (NASDAQ:TEAM) by 66.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,839 shares of the technology company’s stock after selling 3,686 shares during the period. Oak Thistle LLC’s holdings in Atlassian were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TEAM. GAMMA Investing LLC raised its position in Atlassian by 22.9% in 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. Legacy Wealth Asset Management LLC raised its position in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the period. Commerce Bank boosted its holdings in Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the last quarter. Finally, Signaturefd LLC increased its position in Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after purchasing an additional 111 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Anutthara Bharadwaj sold 4,560 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the sale, the president now directly owns 224,436 shares in the company, valued at approximately $50,599,096.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92. Following the sale, the chief executive officer now owns 135,116 shares in the company, valued at approximately $37,668,989.64. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,668 shares of company stock valued at $65,408,691 in the last three months. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEAM. Morgan Stanley raised their target price on shares of Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp lifted their price target on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Macquarie assumed coverage on Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective on the stock. Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Finally, Raymond James upped their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.65.

Atlassian Stock Up 1.7 %

TEAM stock opened at $254.25 on Friday. The stock’s 50 day moving average is $256.07 and its 200-day moving average is $201.44. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The firm has a market capitalization of $66.22 billion, a PE ratio of -167.27 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. Sell-side analysts expect that Atlassian Co. will post -0.55 EPS for the current fiscal year.

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.