Cambridge Trust Co. Sells 168 Shares of Atlassian Co. (NASDAQ:TEAM)

Cambridge Trust Co. trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,504 shares of the technology company’s stock after selling 168 shares during the period. Cambridge Trust Co.’s holdings in Atlassian were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. OFI Invest Asset Management bought a new position in Atlassian in the third quarter worth about $26,000. Meeder Asset Management Inc. raised its position in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after acquiring an additional 147 shares during the period. Tyler Stone Wealth Management bought a new stake in shares of Atlassian during the 2nd quarter valued at $34,000. Quarry LP bought a new stake in shares of Atlassian during the 2nd quarter valued at $44,000. Finally, Carolinas Wealth Consulting LLC raised its position in shares of Atlassian by 1,365.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company’s stock valued at $50,000 after purchasing an additional 273 shares during the period. 93.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the sale, the chief executive officer now owns 407,655 shares of the company’s stock, valued at approximately $80,006,370.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Gene Liu sold 227 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the sale, the chief executive officer now directly owns 407,655 shares in the company, valued at $80,006,370.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 298,930 shares of company stock valued at $62,707,908. Insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TEAM. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. KeyCorp initiated coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating for the company. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Hold” and a consensus target price of $224.25.

Atlassian Stock Performance

NASDAQ TEAM opened at $191.00 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $202.37 and a 200 day moving average price of $206.57. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last posted 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). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Equities research analysts predict that Atlassian Co. will post -0.4 earnings per share 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.