Pathstone Holdings LLC Cuts Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Pathstone Holdings LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,344 shares of the technology company's stock after selling 2,205 shares during the quarter. Pathstone Holdings LLC's holdings in Atlassian were worth $11,038,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TEAM. Allworth Financial LP increased its stake in 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 acquiring an additional 47 shares during the last quarter. Slow Capital Inc. increased its stake in shares of Atlassian by 2.9% in the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company's stock valued at $8,245,000 after purchasing an additional 959 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Atlassian by 3,951.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company's stock valued at $36,432,000 after buying an additional 145,995 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in shares of Atlassian in the 4th quarter valued at approximately $230,000. Finally, LPL Financial LLC boosted its stake in shares of Atlassian by 93.4% in the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after purchasing an additional 24,891 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. Oppenheimer raised their price objective on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and cut their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Truist Financial dropped their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48. Following the transaction, the director now owns 198,700 shares in the company, valued at approximately $56,283,762. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Gene Liu sold 541 shares of Atlassian stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares of the company's stock, valued at $11,609,480.31. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 295,003 shares of company stock worth $66,087,944 over the last quarter. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 0.2%

NASDAQ TEAM traded down $0.37 on Wednesday, hitting $214.12. 493,905 shares of the company were exchanged, compared to its average volume of 2,097,878. 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 cap of $56.21 billion, a PE ratio of -159.80 and a beta of 1.06. The stock has a fifty day moving average of $213.39 and a 200-day moving average of $247.54. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

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

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.