Dakota Wealth Management Sells 58 Shares of Atlassian Co. (NASDAQ:TEAM)

Dakota Wealth Management lowered its holdings in Atlassian Co. (NASDAQ:TEAM) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,205 shares of the technology company’s stock after selling 58 shares during the period. Dakota Wealth Management’s holdings in Atlassian were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Atlassian during the third quarter valued at about $606,000. Sequoia Financial Advisors LLC increased its holdings in Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after acquiring an additional 520 shares during the period. Fulton Bank N.A. purchased a new stake in Atlassian in the 4th quarter worth approximately $447,000. Paloma Partners Management Co bought a new position in Atlassian in the 3rd quarter valued at $1,588,000. Finally, Impax Asset Management Group plc grew its position in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Citigroup lifted their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Macquarie started coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $273.19.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $264.81 on Friday. 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 price of $257.68 and a 200-day moving average price of $204.80. The company has a market cap of $68.97 billion, a price-to-earnings ratio of -174.22 and a beta of 0.83. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97.

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

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92. Following the completion of the transaction, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at $37,668,989.64. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,188 shares of company stock valued at $67,421,558 over the last quarter. 38.55% of the stock is 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.