Avior Wealth Management LLC Sells 200 Shares of Atlassian Co. (NASDAQ:TEAM)

Avior Wealth Management LLC cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 39.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 304 shares of the technology company’s stock after selling 200 shares during the quarter. Avior Wealth Management LLC’s holdings in Atlassian were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Financial Advocates Investment Management lifted its stake in Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. SkyView Investment Advisors LLC lifted its stake in Atlassian by 2.1% in the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares during the period. GAMMA Investing LLC lifted its stake in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. Finally, Founders Financial Securities LLC lifted its stake in Atlassian by 4.9% in the second quarter. Founders Financial Securities LLC now owns 2,201 shares of the technology company’s stock worth $389,000 after acquiring an additional 102 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total transaction of $1,945,749.88. Following the sale, the director now directly owns 214,596 shares in the company, valued at $52,535,246.76. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock valued at $49,012,774 in the last 90 days. 38.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays decreased their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Truist Financial increased their price target on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a research report on Friday, November 1st. Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.21.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $260.58 on Monday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $262.00. The company’s 50 day moving average is $196.47 and its 200 day moving average is $176.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market cap of $67.86 billion, a PE ratio of -171.43 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned ($0.07) EPS. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.56 EPS for the current year.

About Atlassian

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.