Stratos Wealth Partners LTD. Sells 1,505 Shares of Atlassian Co. (NASDAQ:TEAM)

Stratos Wealth Partners LTD. decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 24.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,721 shares of the technology company’s stock after selling 1,505 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Atlassian were worth $1,149,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TEAM. GAMMA Investing LLC increased its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC boosted its holdings in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter valued at $48,000. Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Atlassian in the third quarter worth $103,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 1.5 %

TEAM stock opened at $314.28 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $265.92 and a two-hundred day moving average of $213.13. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $324.37. The company has a market cap of $82.34 billion, a price-to-earnings ratio of -234.54 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. As a group, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on TEAM shares. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their price objective on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Truist Financial reissued a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Citigroup upped their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, UBS Group lifted their price objective on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the transaction, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at approximately $55,131,381.48. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 256,705 shares of company stock worth $67,890,023 in the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Company 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.