Virtu Financial LLC Increases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Virtu Financial LLC raised its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 77.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,767 shares of the technology company's stock after purchasing an additional 2,952 shares during the period. Virtu Financial LLC's holdings in Atlassian were worth $1,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC increased its position in shares of Atlassian by 9,292.4% during the fourth quarter. TD Private Client Wealth LLC now owns 9,862 shares of the technology company's stock valued at $2,400,000 after acquiring an additional 9,757 shares during the last quarter. Semanteon Capital Management LP bought a new position in Atlassian in the 4th quarter valued at $1,414,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Atlassian by 164.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the technology company's stock worth $142,000 after purchasing an additional 364 shares during the period. Whittier Trust Co. boosted its holdings in shares of Atlassian by 2,810.2% in the 4th quarter. Whittier Trust Co. now owns 1,426 shares of the technology company's stock worth $347,000 after buying an additional 1,377 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its position in Atlassian by 12.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,450 shares of the technology company's stock valued at $352,000 after buying an additional 157 shares during the period. 94.45% of the stock is owned by institutional investors.

Remove Ads

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $7.01 during midday trading on Thursday, hitting $222.64. 1,755,098 shares of the company's stock were exchanged, compared to its average volume of 1,936,555. The business's fifty day moving average price is $270.60 and its two-hundred day moving average price is $237.80. The company has a market cap of $58.33 billion, a price-to-earnings ratio of -166.15 and a beta of 0.91. 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 Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. As a group, research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on TEAM. Piper Sandler lifted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Mizuho increased their price objective on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Finally, William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Nine 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 an average rating of "Moderate Buy" and an average price target of $316.77.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56. Following the completion of the sale, the chief executive officer now directly owns 7,948 shares of the company's stock, valued at $1,962,917.56. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $70,644,164 over the last 90 days. Insiders own 38.55% of the company's stock.

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.