Stanley Laman Group Ltd. Sells 2,713 Shares of Atlassian Co. (NASDAQ:TEAM)

Stanley Laman Group Ltd. cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,359 shares of the technology company’s stock after selling 2,713 shares during the period. Atlassian accounts for approximately 1.2% of Stanley Laman Group Ltd.’s holdings, making the stock its 10th biggest holding. Stanley Laman Group Ltd.’s holdings in Atlassian were worth $8,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TEAM. GAMMA Investing LLC increased its stake in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. CWM LLC increased its stake in shares of Atlassian by 270.6% in the 3rd quarter. CWM LLC now owns 7,875 shares of the technology company’s stock valued at $1,251,000 after acquiring an additional 5,750 shares during the last quarter. Creative Planning increased its stake in shares of Atlassian by 32.3% in the 3rd quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 1,941 shares during the last quarter. Swedbank AB increased its stake in shares of Atlassian by 4.2% in the 3rd quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock valued at $10,090,000 after acquiring an additional 2,539 shares during the last quarter. Finally, Slow Capital Inc. bought a new stake in Atlassian during the 3rd quarter worth approximately $5,228,000. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TEAM shares. Macquarie increased their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Mizuho increased their target price on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $318.45 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock’s 50-day moving average is $267.99 and its 200 day moving average is $215.44.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the transaction, the director now owns 214,596 shares in the company, valued at $52,535,246.76. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Gene Liu sold 165 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the sale, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,653 shares of company stock worth $70,451,743 over the last ninety days. 38.55% of the stock is owned by corporate insiders.

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.