Grafton Street Partners Fund LP Has $22.30 Million Position in Atlassian Co. (NASDAQ:TEAM)

Grafton Street Partners Fund LP reduced its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,608 shares of the technology company's stock after selling 7,690 shares during the quarter. Atlassian comprises 16.2% of Grafton Street Partners Fund LP's holdings, making the stock its largest position. Grafton Street Partners Fund LP's holdings in Atlassian were worth $22,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian in the 4th quarter worth about $27,000. Summit Securities Group LLC bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the fourth quarter worth approximately $39,000. Avion Wealth increased its stake in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after acquiring an additional 157 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Atlassian by 30.6% during 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 institutional investors and hedge funds.

Atlassian Trading Down 4.9 %

NASDAQ TEAM opened at $192.84 on Tuesday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. 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 market capitalization of $50.52 billion, a PE ratio of -143.91 and a beta of 1.07. The business's 50-day moving average price is $237.16 and its two-hundred day moving average price is $243.47.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TEAM. Morgan Stanley decreased their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price target on shares of Atlassian from $375.00 to $330.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Truist Financial cut their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Macquarie upgraded Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $317.00 to $270.00 in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $297.73.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the completion of the sale, the president now owns 201,657 shares in the company, valued at $63,033,945.06. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated 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 in the company, valued at $87,098,475.92. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,565 shares of company stock valued at $65,091,576. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.