Sciencast Management LP Sells 15,329 Shares of Atlassian Co. (NASDAQ:TEAM)

Sciencast Management LP decreased its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 87.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,154 shares of the technology company's stock after selling 15,329 shares during the period. Sciencast Management LP's holdings in Atlassian were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TEAM. Principal Financial Group Inc. lifted its stake in Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock worth $1,710,000 after purchasing an additional 4,099 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Atlassian by 24.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company's stock valued at $281,000 after acquiring an additional 347 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Atlassian by 168.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company's stock valued at $1,631,000 after acquiring an additional 6,440 shares during the period. Quest Partners LLC grew its position in Atlassian by 18.3% during the 3rd quarter. Quest Partners LLC now owns 2,135 shares of the technology company's stock worth $339,000 after acquiring an additional 330 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Atlassian during the 3rd quarter worth approximately $982,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

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Atlassian Stock Up 0.4 %

Atlassian stock traded up $0.96 during mid-day trading on Tuesday, hitting $235.58. The company had a trading volume of 1,072,322 shares, compared to its average volume of 1,941,070. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a market capitalization of $61.72 billion, a PE ratio of -175.81 and a beta of 0.91. The stock's 50 day moving average price is $271.21 and its two-hundred day moving average price is $237.32. 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 posted 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%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now directly owns 199,934 shares of the company's stock, valued at $61,147,814.56. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the transaction, the director now owns 389,452 shares in the company, valued at $98,535,250.52. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,085 shares of company stock worth $68,986,450 over the last 90 days. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TEAM shares. William Blair reissued an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Citigroup increased their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Macquarie boosted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. BMO Capital Markets upgraded shares of Atlassian from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Finally, Stephens began coverage on Atlassian in a report on Wednesday, March 19th. They set an "equal weight" rating and a $255.00 price target on the stock. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus price target of $316.77.

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.