Baird Financial Group Inc. Sells 62,137 Shares of Atlassian Co. (NASDAQ:TEAM)

Baird Financial Group Inc. decreased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 255,877 shares of the technology company's stock after selling 62,137 shares during the period. Baird Financial Group Inc. owned approximately 0.10% of Atlassian worth $62,275,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TEAM. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the 4th quarter valued at about $27,000. Summit Securities Group LLC acquired a new position in shares of Atlassian during the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian during the fourth quarter worth approximately $39,000. Avion Wealth lifted its position in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the period. Finally, Assetmark Inc. boosted its stake in 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 purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TEAM shares. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. KeyCorp reduced their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley cut their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Atlassian Stock Performance

TEAM stock traded down $2.18 during trading on Wednesday, reaching $205.71. 2,203,106 shares of the stock were exchanged, compared to its average volume of 2,078,968. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. 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 company has a market capitalization of $53.90 billion, a P/E ratio of -153.51 and a beta of 1.06. The stock has a 50 day simple moving average of $219.57 and a 200-day simple moving average of $245.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the transaction, the chief executive officer now directly owns 270,232 shares in the company, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.58, for a total value of $475,121.60. Following the completion of the sale, the president now owns 201,657 shares of the company's stock, valued at $63,033,945.06. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,734 shares of company stock valued at $62,944,544. 38.55% of the stock is currently owned by corporate insiders.

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.