Manning & Napier Group LLC Lowers Stake in Atlassian Co. (NASDAQ:TEAM)

Manning & Napier Group LLC decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 76,940 shares of the technology company’s stock after selling 4,786 shares during the quarter. Manning & Napier Group LLC’s holdings in Atlassian were worth $18,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Legacy Wealth Asset Management LLC raised its position in shares of Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the period. Park National Corp OH raised its position in shares of Atlassian by 3.5% in the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after buying an additional 48 shares during the period. Carmel Capital Partners LLC raised its position in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the period. Personal CFO Solutions LLC raised its position in shares of Atlassian by 1.0% in the 3rd quarter. Personal CFO Solutions LLC now owns 6,136 shares of the technology company’s stock worth $1,236,000 after buying an additional 59 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Atlassian by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 18,278 shares of the technology company’s stock worth $4,348,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Trading Up 1.0 %

Shares of Atlassian stock traded up $1.97 during trading hours on Friday, hitting $195.11. 1,130,698 shares of the company’s stock traded hands, compared to its average volume of 1,777,683. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The stock has a 50 day simple moving average of $213.10 and a 200-day simple moving average of $206.82. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

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

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the transaction, the president now owns 171,674 shares of the company’s stock, valued at $41,296,180.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,159 shares of company stock worth $63,767,765. Corporate insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho raised their price objective on Atlassian from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Wells Fargo & Company raised their price objective on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Truist Financial raised their price objective on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $225.19.

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.