Dynamic Technology Lab Private Ltd Has $1.35 Million Position in Atlassian Co. (NASDAQ:TEAM)

Dynamic Technology Lab Private Ltd lessened its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 54.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,553 shares of the technology company's stock after selling 6,600 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Atlassian were worth $1,351,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new position in shares of Atlassian in the fourth quarter valued at approximately $687,486,000. JPMorgan Chase & Co. increased its stake in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. Norges Bank bought a new position in shares of Atlassian in the fourth quarter valued at about $296,697,000. Arrowstreet Capital Limited Partnership acquired a new position in Atlassian during the 4th quarter worth about $234,547,000. Finally, Los Angeles Capital Management LLC grew its holdings in Atlassian by 12,047.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company's stock worth $55,521,000 after acquiring an additional 226,246 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the completion of the sale, the chief executive officer now owns 270,232 shares of the company's stock, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $68,608,284 over the last quarter. 38.55% of the stock is currently owned by insiders.

Remove Ads

Analyst Ratings Changes

Several equities analysts recently issued reports on TEAM shares. UBS Group decreased their price target on Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. StockNews.com downgraded Atlassian from a "buy" rating to a "hold" rating in a research note on Monday, March 31st. The Goldman Sachs Group increased their target price on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Barclays upped their price target on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group upped their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and an average price target of $297.50.

Atlassian Stock Down 2.7 %

Shares of NASDAQ TEAM traded down $5.27 during mid-day trading on Friday, hitting $192.76. The company had a trading volume of 705,601 shares, compared to its average volume of 2,035,135. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a market capitalization of $50.50 billion, a PE ratio of -144.34 and a beta of 1.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a 50-day simple moving average of $253.50 and a two-hundred day simple moving average of $241.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

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.