UMB Bank n.a. Sells 132 Shares of Atlassian Co. (NASDAQ:TEAM)

UMB Bank n.a. cut its position in shares of Atlassian Co. (NASDAQ:TEAM) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 506 shares of the technology company’s stock after selling 132 shares during the quarter. UMB Bank n.a.’s holdings in Atlassian were worth $123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Aaron Wealth Advisors LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $228,000. Hanseatic Management Services Inc. acquired a new stake in Atlassian in the 4th quarter valued at $603,000. HB Wealth Management LLC lifted its position in Atlassian by 17.9% during the 4th quarter. HB Wealth Management LLC now owns 1,502 shares of the technology company’s stock worth $366,000 after buying an additional 228 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new position in shares of Atlassian during the 4th quarter worth about $314,000. Finally, Merit Financial Group LLC bought a new position in shares of Atlassian in the 4th quarter valued at about $726,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Up 1.9 %

NASDAQ TEAM opened at $265.70 on Friday. The company has a market cap of $69.20 billion, a price-to-earnings ratio of -174.80 and a beta of 0.83. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. 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 50 day moving average of $256.87 and a 200-day moving average of $203.61.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts expect that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Mizuho upped their target price on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. UBS Group upped their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. KeyCorp lifted their price objective on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup upped their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.00.

Insiders Place Their Bets

In related news, CAO Gene Liu sold 165 shares of Atlassian 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 directly owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $255.71, for a total transaction of $2,032,383.08. Following the completion of the transaction, the director now directly owns 381,504 shares of the company’s stock, valued at approximately $97,554,387.84. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,240 shares of company stock worth $65,312,715 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

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.