14,088 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Elwood Capital Partners LP

Elwood Capital Partners LP acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,088 shares of the technology company's stock, valued at approximately $3,429,000. Atlassian makes up about 3.4% of Elwood Capital Partners LP's portfolio, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian during the fourth quarter worth about $27,000. True Wealth Design LLC lifted its stake in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after buying an additional 231 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $38,000. Avion Wealth grew its position in shares of 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. Finally, Assetmark Inc. increased its holdings in shares of 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 acquiring an additional 41 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEAM has been the topic of several research reports. Scotiabank raised their price objective on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. UBS Group lowered their price target on Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, StockNews.com cut shares of Atlassian from a "buy" rating to a "hold" rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of "Moderate Buy" and an average price target of $308.73.

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Atlassian Trading Down 11.4 %

TEAM traded down $25.61 during trading on Thursday, hitting $198.35. The company's stock had a trading volume of 3,316,711 shares, compared to its average volume of 1,991,731. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm's 50 day moving average price is $266.94 and its 200-day moving average price is $239.70. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $51.97 billion, a PE ratio of -148.02 and a beta of 1.07.

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 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, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $222.68, for a total transaction of $1,769,860.64. Following the transaction, the chief executive officer now directly owns 357,660 shares of the company's stock, valued at $79,643,728.80. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the 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 sale, the president now directly owns 210,471 shares of the company's stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,981 shares of company stock valued at $71,914,254. Insiders own 38.55% of the company's stock.

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.