Dynamic Technology Lab Private Ltd Sells 6,600 Shares of Atlassian Co. (NASDAQ:TEAM)

Dynamic Technology Lab Private Ltd cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 54.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,553 shares of the technology company’s stock after selling 6,600 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Atlassian were worth $1,351,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the 4th quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Atlassian in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the fourth quarter worth $39,000. Avion Wealth lifted its stake in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Down 5.4 %

TEAM opened at $187.67 on Friday. The company has a market cap of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. The company has a fifty day moving average price of $264.05 and a two-hundred day moving average price of $240.16. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Stephens began coverage on shares of Atlassian in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective for the company. Truist Financial reduced their target price on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Macquarie raised their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Scotiabank boosted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $308.73.

Insider Buying and Selling

In other news, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the sale, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $209.73, for a total value of $1,666,934.04. The disclosure for this sale can be found here. Insiders have sold a total of 270,981 shares of company stock worth $71,914,254 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

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.