Entropy Technologies LP Has $3.26 Million Position in Atlassian Co. (NASDAQ:TEAM)

Entropy Technologies LP cut its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 18.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,511 shares of the technology company's stock after selling 4,721 shares during the period. Entropy Technologies LP's holdings in Atlassian were worth $3,257,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont increased its stake in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock valued at $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in Atlassian in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC lifted its position in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after acquiring an additional 96 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the 1st quarter worth approximately $40,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the transaction, the chief executive officer now owns 182,804 shares of the company's stock, valued at $30,127,927.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the completion of the sale, the chief executive officer now directly owns 182,804 shares in the company, valued at $30,127,927.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,395 shares of company stock valued at $46,787,439. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 0.2 %

Shares of TEAM stock traded down $0.57 on Tuesday, hitting $245.28. 2,267,335 shares of the stock were exchanged, compared to its average volume of 1,855,388. The business has a 50-day moving average of $181.17 and a 200 day moving average of $172.59. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm has a market capitalization of $63.88 billion, a P/E ratio of -160.04 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned ($0.07) EPS. The company's revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Atlassian Co. will post -0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. KeyCorp upgraded shares of Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price on the stock in a research report on Friday, November 1st. UBS Group lifted their target price on shares of Atlassian from $180.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Truist Financial raised their price target on Atlassian from $160.00 to $200.00 and gave the company a "hold" rating in a report on Friday, November 1st. Baird R W lowered Atlassian from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group raised their target price on Atlassian from $225.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $243.16.

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.