Brown Brothers Harriman & Co. Sells 121 Shares of Atlassian Co. (NASDAQ:TEAM)

Brown Brothers Harriman & Co. decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 315 shares of the technology company’s stock after selling 121 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Atlassian were worth $77,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TEAM. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian in the 4th quarter valued at $27,000. Avion Wealth raised its stake in shares of 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 acquiring an additional 157 shares during the last quarter. Assetmark Inc. lifted its holdings in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Atlassian during the fourth quarter valued at $49,000. Finally, Kestra Investment Management LLC acquired a new position in Atlassian during the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $216.41 on Wednesday. The firm has a market cap of $56.70 billion, a P/E ratio of -161.50 and a beta of 0.91. The business’s fifty day moving average is $267.68 and its 200-day moving average is $239.81. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. Sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares of the company’s stock, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,981 shares of company stock valued at $72,069,956. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TEAM has been the topic of several recent research reports. Oppenheimer raised their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Mizuho boosted their target price on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday. Cantor Fitzgerald boosted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.18.

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.