Polymer Capital Management US LLC Invests $330,000 in Atlassian Co. (NASDAQ:TEAM)

Polymer Capital Management US LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,354 shares of the technology company's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. JPMorgan Chase & Co. raised its stake in shares of Atlassian by 72.9% during 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 purchasing an additional 1,806,042 shares during the period. State Street Corp increased its stake in Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock worth $565,424,000 after buying an additional 8,957 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Atlassian in the 4th quarter worth $687,486,000. Geode Capital Management LLC boosted its position in Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after buying an additional 27,899 shares during the last quarter. Finally, Norges Bank purchased a new position in Atlassian in the 4th quarter valued at about $296,697,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Performance

NASDAQ TEAM traded up $0.34 on Friday, hitting $198.37. The stock had a trading volume of 2,003,551 shares, compared to its average volume of 2,041,722. The company's 50-day moving average is $251.13 and its two-hundred day moving average is $241.80. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

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Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60. Following the completion of the sale, the chief executive officer now owns 405,348 shares in the company, valued at approximately $101,823,417.60. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock valued at $68,608,284 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on TEAM. Mizuho boosted their price target on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. BMO Capital Markets cut their target price on Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research report on Thursday. Macquarie raised shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $317.00 to $270.00 in a research report on Thursday. UBS Group cut their price target on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Finally, Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.50.

Atlassian 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.