KCM Investment Advisors LLC Trims Stock Position in Atlassian Co. (NASDAQ:TEAM)

KCM Investment Advisors LLC cut its position in Atlassian Co. (NASDAQ:TEAM) by 13.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,290 shares of the technology company’s stock after selling 660 shares during the quarter. KCM Investment Advisors LLC’s holdings in Atlassian were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter worth $27,000. Summit Securities Group LLC purchased a new stake in shares of Atlassian in the 4th quarter valued at about $38,000. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares in the last quarter. Finally, Mainstream Capital Management LLC bought a new position in shares of Atlassian in the fourth quarter worth approximately $49,000. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TEAM shares. Barclays boosted their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Oppenheimer boosted their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.73.

Atlassian Stock Performance

Shares of TEAM opened at $187.67 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a 50-day simple moving average of $264.05 and a two-hundred day simple moving average of $240.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $49.17 billion, a PE ratio of -140.05 and a beta of 1.07.

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

Insider Transactions at Atlassian

In other news, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the sale, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $222.68, for a total value of $1,769,860.64. Following the completion of the transaction, the chief executive officer now directly owns 357,660 shares of the company’s stock, valued at approximately $79,643,728.80. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,981 shares of company stock valued at $71,914,254 in the last three months. 38.55% of the stock is currently owned by company insiders.

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.