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

Ceera Investments LLC lowered its position in shares of Atlassian Co. (NASDAQ:TEAM) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,598 shares of the technology company’s stock after selling 330 shares during the quarter. Atlassian makes up about 2.2% of Ceera Investments LLC’s holdings, making the stock its 15th largest holding. Ceera Investments LLC’s holdings in Atlassian were worth $6,473,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. grew its stake in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares in the last quarter. Allworth Financial LP grew its stake in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after buying an additional 54 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Atlassian by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after buying an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Atlassian by 1.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent research reports. Piper Sandler lifted their target price on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Canaccord Genuity Group lifted their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Performance

NASDAQ TEAM opened at $238.86 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $276.11 and its two-hundred day moving average is $232.17. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market capitalization of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the sale, the chief executive officer now directly owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,501 shares of company stock worth $74,977,422. Company insiders own 38.55% of the company’s stock.

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.