Brooklyn Investment Group Sells 131 Shares of Atlassian Co. (NASDAQ:TEAM)

Brooklyn Investment Group reduced its position in Atlassian Co. (NASDAQ:TEAM) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 989 shares of the technology company’s stock after selling 131 shares during the quarter. Brooklyn Investment Group’s holdings in Atlassian were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Merit Financial Group LLC bought a new position in Atlassian in the fourth quarter valued at approximately $726,000. Everpar Advisors LLC acquired a new stake in shares of Atlassian in the 4th quarter valued at $211,000. Decker Retirement Planning Inc. bought a new position in shares of Atlassian in the 4th quarter valued at $4,374,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Atlassian by 23.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,316 shares of the technology company’s stock worth $564,000 after buying an additional 447 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Atlassian by 16.7% during the 4th quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company’s stock worth $1,158,000 after buying an additional 682 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

TEAM stock opened at $252.36 on Friday. The firm has a market cap of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $256.36 and a 200-day moving average price of $202.09. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, equities research analysts expect that Atlassian Co. will post -0.55 earnings per share for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the transaction, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at approximately $37,668,989.64. This represents a 5.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph Leo Binz sold 1,674 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $411,485.94. Following the completion of the sale, the chief financial officer now directly owns 171,929 shares of the company’s stock, valued at $42,261,867.49. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 280,136 shares of company stock worth $67,814,587 in the last quarter. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TEAM shares. Piper Sandler boosted their target price on Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Macquarie began coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Cantor Fitzgerald began coverage on Atlassian in a research note on Friday. They issued a “neutral” rating and a $264.00 price target for the company. Finally, Morgan Stanley boosted their price objective on Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $272.00.

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.