Howard Bailey Securities LLC Sells 443 Shares of Atlassian Co. (NASDAQ:TEAM)

Howard Bailey Securities LLC lessened its position in Atlassian Co. (NASDAQ:TEAM) by 26.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,224 shares of the technology company’s stock after selling 443 shares during the period. Howard Bailey Securities LLC’s holdings in Atlassian were worth $298,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TEAM. Avion Wealth lifted its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares in the last quarter. True Wealth Design LLC lifted its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. GAMMA Investing LLC grew 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 purchasing an additional 96 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Atlassian during the 3rd quarter worth approximately $48,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Atlassian by 23.2% in 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 last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the completion of the transaction, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at $55,131,381.48. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph Leo Binz sold 1,674 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $411,485.94. Following the completion of the sale, the chief financial officer now owns 171,929 shares in the company, valued at $42,261,867.49. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,653 shares of company stock worth $70,451,743. Insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer upped their target price on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Stock Performance

Shares of Atlassian stock opened at $318.45 on Thursday. The stock has a market cap of $83.43 billion, a price-to-earnings ratio of -237.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm’s 50-day moving average is $267.99 and its 200 day moving average is $215.44.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Atlassian Company 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.