Atlassian Co. (NASDAQ:TEAM) Shares Sold by Glynn Capital Management LLC

Glynn Capital Management LLC lowered its holdings in Atlassian Co. (NASDAQ:TEAM) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 150,829 shares of the technology company’s stock after selling 12,070 shares during the quarter. Atlassian accounts for about 8.7% of Glynn Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Glynn Capital Management LLC owned about 0.06% of Atlassian worth $36,709,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the last quarter. Avion Wealth boosted its holdings in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. grew its position in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new position in shares of Atlassian during the 4th quarter worth about $49,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Atlassian during the fourth quarter valued at about $56,000. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $219.45 on Wednesday. The business has a fifty day moving average of $272.20 and a 200-day moving average of $235.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm has a market cap of $57.50 billion, a PE ratio of -163.77 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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, equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $255.22, for a total transaction of $2,028,488.56. Following the completion of the sale, the chief executive officer now owns 47,688 shares in the company, valued at $12,170,931.36. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 256,605 shares of company stock valued at $69,903,340. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TEAM. Barclays boosted their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Scotiabank lifted their price objective on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Piper Sandler upped their target price on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Finally, UBS Group boosted their price target on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

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.