Atlassian Co. (NASDAQ:TEAM) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lessened its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,969 shares of the technology company's stock after selling 18,054 shares during the quarter. Atlassian accounts for 0.7% of Headlands Technologies LLC's portfolio, making the stock its 21st largest position. Headlands Technologies LLC's holdings in Atlassian were worth $7,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TEAM. Elwood Capital Partners LP acquired a new stake in shares of Atlassian in the fourth quarter worth $3,429,000. Geode Capital Management LLC grew its position in Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of Atlassian by 7.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,016 shares of the technology company's stock valued at $247,000 after buying an additional 68 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Atlassian by 9.9% in the 4th quarter. Franklin Resources Inc. now owns 73,275 shares of the technology company's stock valued at $17,834,000 after buying an additional 6,587 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Atlassian by 14.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 7,056 shares of the technology company's stock worth $1,719,000 after buying an additional 870 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

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Atlassian Stock Down 11.4 %

Atlassian stock traded down $25.61 during midday trading on Thursday, hitting $198.35. The stock had a trading volume of 3,316,711 shares, compared to its average volume of 1,991,731. The business has a fifty day moving average price of $266.94 and a 200 day moving average price of $239.70. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a market cap of $51.97 billion, a P/E ratio of -148.02 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on TEAM shares. Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Oppenheimer lifted their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, Stephens began coverage on shares of Atlassian in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $255.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $308.73.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 779 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares of the company's stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04. The disclosure for this sale can be found here. Insiders sold a total of 270,981 shares of company stock worth $71,914,254 over the last ninety days. Company 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.