Vestmark Advisory Solutions Inc. Lowers Stake in Atlassian Co. (NASDAQ:TEAM)

Vestmark Advisory Solutions Inc. reduced its position in Atlassian Co. (NASDAQ:TEAM) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,778 shares of the technology company’s stock after selling 668 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Atlassian were worth $899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in TEAM. OFI Invest Asset Management bought a new position in Atlassian in the third quarter worth about $26,000. Carmel Capital Partners LLC raised its holdings in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. Operose Advisors LLC bought a new position in Atlassian in the third quarter worth about $99,000. Finally, GAMMA Investing LLC acquired a new position in shares of Atlassian during the fourth quarter valued at about $107,000. 93.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $213.49, for a total value of $1,759,371.09. Following the completion of the sale, the chief executive officer now directly owns 280,194 shares of the company’s stock, valued at $59,818,617.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Gene Liu sold 227 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $213.49, for a total value of $1,759,371.09. Following the sale, the chief executive officer now owns 280,194 shares of the company’s stock, valued at approximately $59,818,617.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,450 shares of company stock valued at $60,110,850. 40.48% of the stock is currently owned by company insiders.

Atlassian Stock Up 1.0 %

TEAM traded up $1.84 on Monday, reaching $185.36. The company’s stock had a trading volume of 108,501 shares, compared to its average volume of 1,752,682. The stock has a 50 day moving average of $197.23 and a two-hundred day moving average of $206.07. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $48.25 billion, a price-to-earnings ratio of -291.30 and a beta of 0.67. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) earnings per share. As a group, analysts forecast that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of several recent analyst reports. Canaccord Genuity Group cut their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Robert W. Baird dropped their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Oppenheimer dropped their target price on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Finally, Truist Financial dropped their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

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.