Northwest Capital Management Inc Sells 113 Shares of Atlassian Co. (NASDAQ:TEAM)

Northwest Capital Management Inc lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 35.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206 shares of the technology company’s stock after selling 113 shares during the period. Northwest Capital Management Inc’s holdings in Atlassian were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the last quarter. Avion Wealth raised its holdings 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. Reston Wealth Management LLC bought a new position in shares of Atlassian during the third quarter worth $48,000. Kestra Investment Management LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $56,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TEAM shares. UBS Group lifted their target price on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Macquarie boosted their price objective on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Citigroup upped their price objective on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Trading Down 4.2 %

Shares of TEAM stock opened at $285.99 on Monday. The stock has a market cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. Atlassian Co. has a 1 year low of $135.29 and a 1 year 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 stock has a 50 day simple moving average of $272.98 and a 200 day simple moving average of $223.88.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock valued at $75,480,290 over the last quarter. 38.55% of the stock is owned by company insiders.

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.