Versor Investments LP Decreases Position in Atlassian Co. (NASDAQ:TEAM)

Versor Investments LP decreased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 69.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,300 shares of the technology company's stock after selling 7,500 shares during the period. Versor Investments LP's holdings in Atlassian were worth $524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock valued at $306,000 after purchasing an additional 520 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock worth $5,940,000 after acquiring an additional 31,986 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company's stock worth $34,213,000 after acquiring an additional 3,687 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Atlassian in the 3rd quarter worth about $97,350,000. Finally, National Pension Service raised its holdings in shares of Atlassian by 8.4% in the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company's stock worth $47,018,000 after acquiring an additional 22,883 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company's stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the sale, the chief executive officer now owns 214,596 shares of the company's stock, valued at $33,674,404.32. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The trade was a 0.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,395 shares of company stock valued at $46,787,439. Corporate insiders own 38.55% of the company's stock.

Atlassian Trading Down 1.1 %

Atlassian stock traded down $2.79 during trading hours on Thursday, reaching $249.99. The stock had a trading volume of 2,784,433 shares, compared to its average volume of 1,862,803. The stock has a market cap of $65.11 billion, a PE ratio of -165.39 and a beta of 0.71. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day simple moving average of $184.61 and a 200-day simple moving average of $173.61.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company's revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. Analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TEAM shares. Baird R W lowered shares of Atlassian from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. Jefferies Financial Group increased their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday. JMP Securities upgraded shares of Atlassian to a "hold" rating in a research note on Friday, August 2nd. Mizuho increased their price objective on shares of Atlassian from $200.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler increased their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $244.21.

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.