Cambridge Trust Co. Decreases Stake in Atlassian Co. (NASDAQ:TEAM)

Cambridge Trust Co. lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,504 shares of the technology company’s stock after selling 168 shares during the quarter. Cambridge Trust Co.’s holdings in Atlassian were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in Atlassian in the 3rd quarter valued at $26,000. Meeder Asset Management Inc. increased its stake in Atlassian by 151.5% in the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after buying an additional 147 shares during the period. Tyler Stone Wealth Management acquired a new position in shares of Atlassian during the 2nd quarter worth $34,000. Quarry LP acquired a new position in shares of Atlassian during the 2nd quarter worth $44,000. Finally, Carolinas Wealth Consulting LLC grew its stake in shares of Atlassian by 1,365.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company’s stock worth $50,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 1.3 %

NASDAQ TEAM opened at $191.00 on Friday. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company’s 50 day moving average price is $202.37 and its 200 day moving average price is $206.57. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, equities research analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Truist Financial upped their price target on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Mizuho lowered their price objective on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $224.25.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total value of $2,040,471.60. Following the transaction, the chief executive officer now owns 387,327 shares in the company, valued at $95,902,165.20. The disclosure for this sale can be found here. Insiders sold 298,930 shares of company stock valued at $62,707,908 over the last 90 days. 40.48% of the stock is owned by corporate insiders.

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.