Northwest Capital Management Inc Has $50,000 Position in Atlassian Co. (NASDAQ:TEAM)

Northwest Capital Management Inc cut its position in Atlassian Co. (NASDAQ:TEAM) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206 shares of the technology company’s stock after selling 113 shares during the quarter. Northwest Capital Management Inc’s holdings in Atlassian were worth $50,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Hardman Johnston Global Advisors LLC lifted its holdings in shares of Atlassian by 0.8% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 528,349 shares of the technology company’s stock worth $128,590,000 after purchasing an additional 4,421 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Atlassian by 64.2% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 31,292 shares of the technology company’s stock valued at $7,616,000 after purchasing an additional 12,239 shares during the period. Union Bancaire Privee UBP SA bought a new position in Atlassian during the 4th quarter worth $2,976,000. Howard Capital Management Inc. lifted its holdings in Atlassian by 3.2% during the 4th quarter. Howard Capital Management Inc. now owns 4,369 shares of the technology company’s stock worth $1,063,000 after buying an additional 134 shares during the period. Finally, Fisher Funds Management LTD bought a new stake in shares of Atlassian in the 4th quarter valued at about $47,469,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now directly owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total value of $825,000.00. Following the transaction, the director now owns 5,610 shares in the company, valued at approximately $1,542,750. This trade represents a 34.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock worth $75,480,290 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Performance

TEAM opened at $285.99 on Monday. The company has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The company’s fifty day moving average price is $272.98 and its two-hundred day moving average price is $223.88. 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.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TEAM shares. Wells Fargo & Company raised their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Mizuho boosted their price target 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. Citigroup upped their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. KeyCorp lifted their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler upped their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

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.