Atlassian Co. (NASDAQ:TEAM) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 60.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,193 shares of the technology company's stock after selling 87,210 shares during the quarter. Trexquant Investment LP's holdings in Atlassian were worth $14,163,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEAM. JPMorgan Chase & Co. increased its position in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Norges Bank acquired a new stake in shares of Atlassian in the fourth quarter worth $296,697,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlassian in the fourth quarter worth $234,547,000. Point72 Asset Management L.P. raised its stake in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company's stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company's stock valued at $159,382,000 after acquiring an additional 551,500 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Gene Liu sold 779 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents 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 accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 270,981 shares of company stock valued at $71,914,254. Insiders own 38.55% of the company's stock.

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Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $25.61 on Thursday, reaching $198.35. 3,316,711 shares of the company's stock were exchanged, compared to its average volume of 1,994,797. The business's 50-day moving average is $266.94 and its two-hundred day moving average is $239.70. 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 fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market capitalization of $51.97 billion, a price-to-earnings ratio of -148.02 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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, equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEAM. Macquarie raised their price objective on Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $304.00 to $272.00 in a research report on Wednesday. StockNews.com cut Atlassian from a "buy" rating to a "hold" rating in a report on Monday. Oppenheimer lifted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, Canaccord Genuity Group upped their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $308.73.

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.