Atlassian Co. (NASDAQ:TEAM) Shares Sold by Inceptionr LLC

by · The Cerbat Gem

Inceptionr LLC cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 51.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,153 shares of the technology company’s stock after selling 2,310 shares during the period. Inceptionr LLC’s holdings in Atlassian were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. boosted its position in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares during the period. Allworth Financial LP boosted its position in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares during the period. GAMMA Investing LLC boosted its position in shares of Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Atlassian by 4.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after buying an additional 56 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its position in Atlassian by 1.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock worth $963,000 after purchasing an additional 59 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other news, CFO Joseph Leo Binz sold 2,587 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $259.69, for a total transaction of $2,064,016.12. Following the completion of the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at $35,088,274.04. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 272,501 shares of company stock valued at $74,977,422. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $238.86 on Friday. The company’s fifty day moving average is $276.11 and its two-hundred day moving average is $232.17. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a market cap of $62.58 billion, a P/E ratio of -178.25 and a beta of 0.91.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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%. Equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Canaccord Genuity Group upped their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Truist Financial restated a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Barclays upped their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Read Our Latest Analysis on Atlassian

About Atlassian

(Free Report)

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.

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