Atlassian Co. (NASDAQ:TEAM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 30.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,570 shares of the technology company’s stock after selling 10,620 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Atlassian were worth $5,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. True Wealth Design LLC raised 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 during the period. Kestra Investment Management LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at $56,000. GAMMA Investing LLC boosted its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the period. Finally, Reston Wealth Management LLC purchased a new position in Atlassian in the 3rd quarter worth about $48,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley lifted their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Macquarie lifted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Piper Sandler lifted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock valued at $75,853,687 over the last quarter. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

TEAM stock opened at $284.26 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $74.48 billion, a price-to-earnings ratio of -212.13 and a beta of 0.87. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a 50 day moving average of $274.71 and a two-hundred day moving average of $226.71.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. As a group, equities analysts anticipate that Atlassian Co. will post -0.34 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.