Semanteon Capital Management LP Makes New $1.41 Million Investment in Atlassian Co. (NASDAQ:TEAM)

Semanteon Capital Management LP bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,810 shares of the technology company's stock, valued at approximately $1,414,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Atlassian during the third quarter worth $606,000. Fulton Bank N.A. acquired a new position in shares of Atlassian in the 4th quarter valued at about $447,000. Paloma Partners Management Co bought a new stake in shares of Atlassian during the 3rd quarter valued at about $1,588,000. Allworth Financial LP grew its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Atlassian by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company's stock valued at $92,678,000 after buying an additional 12,422 shares during the period. Institutional investors own 94.45% of the company's stock.

Insider Transactions at Atlassian

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 value of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares of the company's stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,085 shares of company stock worth $68,986,450 in the last quarter. Insiders own 38.55% of the company's stock.

Remove Ads

Atlassian Stock Performance

Atlassian stock traded up $1.60 during mid-day trading on Tuesday, reaching $236.22. 1,531,275 shares of the company's stock were exchanged, compared to its average volume of 1,941,070. The business's fifty day simple moving average is $271.21 and its 200 day simple moving average is $237.32. 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. The firm has a market capitalization of $61.89 billion, a PE ratio of -176.28 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. On average, sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEAM shares. Truist Financial reiterated a "buy" rating and issued a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. William Blair reiterated 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 research report on Friday, January 31st. Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, KeyCorp boosted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.