Weatherly Asset Management L. P. Sells 375 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Weatherly Asset Management L. P. lessened its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 20.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,453 shares of the technology company’s stock after selling 375 shares during the period. Weatherly Asset Management L. P.’s holdings in Atlassian were worth $308,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in Atlassian during the 4th quarter valued at about $27,000. Clean Yield Group raised its holdings in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Colonial Trust Co SC lifted its position in Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC purchased a new stake in Atlassian in the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stephens decreased their target price on shares of Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. BMO Capital Markets cut their price objective on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Jefferies Financial Group lowered their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. KeyCorp dropped their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.75.

Atlassian Trading Down 6.5%

Shares of TEAM opened at $187.01 on Monday. The firm has a market cap of $49.09 billion, a P/E ratio of -112.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a 50 day simple moving average of $207.96 and a two-hundred day simple moving average of $233.70.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. Atlassian’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. On average, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $222.47, for a total value of $1,768,191.56. Following the sale, the chief executive officer owned 143,064 shares of the company’s stock, valued at $31,827,448.08. The trade was a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40. Following the transaction, the director owned 174,856 shares of the company’s stock, valued at $36,160,220.80. This represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 409,683 shares of company stock valued at $85,999,659. Company insiders own 38.55% of the company’s stock.

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.