Integrated Wealth Concepts LLC Sells 7,465 Shares of Atlassian Co. (NASDAQ:TEAM)

Integrated Wealth Concepts LLC reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 60.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,813 shares of the technology company’s stock after selling 7,465 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Atlassian were worth $1,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in Atlassian during the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian during the 4th quarter valued at $39,000. Avion Wealth grew its holdings in Atlassian by 1,308.3% in the 4th 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. Finally, Assetmark Inc. increased its position in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In other news, CAO Gene Liu sold 779 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at $16,867,727.10. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $308.86, for a total transaction of $2,454,819.28. Following the sale, the director now owns 317,920 shares of the company’s stock, valued at $98,192,771.20. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,513 shares of company stock worth $65,540,320. 38.55% of the stock is owned by insiders.

Atlassian Trading Down 0.6 %

NASDAQ:TEAM opened at $228.49 on Wednesday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $59.86 billion, a price-to-earnings ratio of -170.51 and a beta of 1.07. The company’s 50 day moving average price is $226.37 and its 200-day moving average price is $244.81. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Macquarie raised Atlassian from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $317.00 to $270.00 in a research note on Thursday, April 10th. KeyCorp reduced their price objective on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group dropped their target price on shares of Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.90.

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.