Cooper Creek Partners Management LLC Sells 32,899 Shares of Atlassian Co. (NASDAQ:TEAM)

Cooper Creek Partners Management LLC reduced its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,288 shares of the technology company's stock after selling 32,899 shares during the quarter. Cooper Creek Partners Management LLC owned about 0.06% of Atlassian worth $36,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Corebridge Financial Inc. lifted its stake in Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. Assetmark Inc. raised its holdings in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the last quarter. Allworth Financial LP boosted its position in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares during the period. GAMMA Investing LLC grew its holdings in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after acquiring an additional 54 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Atlassian by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock worth $357,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Remove Ads

Atlassian Price Performance

Shares of TEAM stock traded up $6.26 during trading on Tuesday, hitting $207.25. The company had a trading volume of 2,246,136 shares, compared to its average volume of 2,042,231. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $54.30 billion, a price-to-earnings ratio of -154.66 and a beta of 1.07. The stock's 50-day moving average is $246.50 and its two-hundred day moving average is $241.83.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the sale, the director now directly owns 333,816 shares in the company, valued at approximately $61,959,587.76. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,981 shares of company stock valued at $69,889,581. Corporate insiders own 38.55% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TEAM. The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Canaccord Genuity Group lifted their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Finally, BMO Capital Markets reduced their price objective on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $300.00.

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.