Verdence Capital Advisors LLC Trims Position in Atlassian Co. (NASDAQ:TEAM)

Verdence Capital Advisors LLC lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,231 shares of the technology company’s stock after selling 264 shares during the period. Verdence Capital Advisors LLC’s holdings in Atlassian were worth $293,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in Atlassian during the 3rd quarter worth about $26,000. Carmel Capital Partners LLC grew its holdings in 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 acquiring an additional 57 shares in the last quarter. 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 worth $88,000 after acquiring an additional 271 shares in the last quarter. Operose Advisors LLC bought a new position in Atlassian during the 3rd quarter worth about $99,000. Finally, First Horizon Advisors Inc. grew its holdings in Atlassian by 33.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 571 shares of the technology company’s stock worth $115,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $199.44 on Wednesday. The firm has a 50 day moving average of $201.18 and a 200 day moving average of $206.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Mizuho dropped their target price on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Truist Financial increased their target price on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. UBS Group lowered their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $224.25.

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $193.35, for a total transaction of $1,593,397.35. Following the completion of the transaction, the chief executive officer now directly owns 382,932 shares of the company’s stock, valued at approximately $74,039,902.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $193.35, for a total transaction of $1,593,397.35. Following the completion of the transaction, the chief executive officer now directly owns 382,932 shares of the company’s stock, valued at approximately $74,039,902.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $193.63, for a total transaction of $147,158.80. Following the transaction, the president now directly owns 162,610 shares of the company’s stock, valued at $31,486,174.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,690 shares of company stock valued at $61,962,072. 40.48% of the stock is owned by 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.