Legacy Wealth Asset Management LLC Reduces Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Legacy Wealth Asset Management LLC lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,167 shares of the technology company’s stock after selling 261 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Atlassian were worth $771,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the 3rd quarter valued at about $48,000. Quarry LP boosted its position in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake 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 buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the transaction, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $338,175.00. Following the sale, the director now owns 8,610 shares of the company’s stock, valued at approximately $1,941,124.50. This represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,136 shares of company stock worth $67,814,587 in the last 90 days. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Atlassian stock opened at $252.36 on Friday. The firm’s 50-day moving average is $256.36 and its two-hundred day moving average is $201.95. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97.

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

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday. Macquarie began coverage on Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price on the stock. Mizuho upped their price target on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, January 7th. Finally, Raymond James upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.00.

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.