Glynn Capital Management LLC Trims Stake in Atlassian Co. (NASDAQ:TEAM)

Glynn Capital Management LLC decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,160 shares of the technology company’s stock after selling 3,425 shares during the quarter. Atlassian comprises about 7.8% of Glynn Capital Management LLC’s investment portfolio, making the stock its largest position. Glynn Capital Management LLC’s holdings in Atlassian were worth $41,664,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. OFI Invest Asset Management bought a new position in shares of Atlassian during the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC boosted its stake in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the last quarter. Operose Advisors LLC purchased a new stake in Atlassian in the 3rd quarter worth about $99,000. Finally, GAMMA Investing LLC purchased a new position in shares of Atlassian during the fourth quarter valued at approximately $107,000. Institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the sale, the chief executive officer now owns 263,712 shares in the company, valued at $57,573,603.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $193.63, for a total value of $147,158.80. Following the transaction, the president now directly owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the transaction, the chief executive officer now owns 263,712 shares of the company’s stock, valued at approximately $57,573,603.84. The disclosure for this sale can be found here. Insiders sold a total of 300,450 shares of company stock worth $60,491,996 in the last 90 days. 40.48% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of TEAM traded up $1.15 during midday trading on Wednesday, reaching $173.45. 759,561 shares of the stock were exchanged, compared to its average volume of 1,745,895. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The business’s 50-day moving average price is $198.71 and its 200 day moving average price is $206.41.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) earnings per share. As a group, equities analysts anticipate that Atlassian Co. will post -0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Monday. Piper Sandler reduced their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Oppenheimer reduced their target price on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Mizuho lowered their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

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.