Blueshift Asset Management LLC Sells 7,572 Shares of Atlassian Co. (NASDAQ:TEAM)

Blueshift Asset Management LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 68.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,513 shares of the technology company's stock after selling 7,572 shares during the quarter. Blueshift Asset Management LLC's holdings in Atlassian were worth $855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares during the last quarter. Avion Wealth lifted its position in Atlassian by 1,308.3% during the fourth 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. Assetmark Inc. lifted its position in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Atlassian during the fourth quarter worth approximately $49,000. Finally, Kestra Investment Management LLC bought a new position in shares of Atlassian during the fourth quarter worth approximately $56,000. Institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

Shares of Atlassian stock traded up $7.28 during midday trading on Monday, hitting $234.62. 1,897,222 shares of the company traded hands, compared to its average volume of 1,941,153. The firm's fifty day moving average price is $271.24 and its 200-day moving average price is $236.81. The stock has a market cap of $61.47 billion, a price-to-earnings ratio of -175.09 and a beta of 0.91. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Remove Ads

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets raised Atlassian from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $255.00 to $292.00 in a report on Friday, January 10th. Stephens began coverage on shares of Atlassian in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 price target on the stock. William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Canaccord Genuity Group increased their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $316.77.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares of the company's stock, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Monday, February 10th. The shares were 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 owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,033 shares of company stock worth $71,015,177. 38.55% of the stock is currently 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.