Voyager Global Management LP Purchases Shares of 100,000 Atlassian Co. (NASDAQ:TEAM)

Voyager Global Management LP acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the technology company's stock, valued at approximately $24,338,000. Atlassian accounts for about 1.0% of Voyager Global Management LP's investment portfolio, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian in the fourth quarter worth about $27,000. Summit Securities Group LLC acquired a new position in shares of Atlassian in the fourth quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian in the fourth quarter worth about $39,000. Avion Wealth boosted its holdings in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

Shares of Atlassian stock traded up $1.15 during midday trading on Monday, reaching $229.83. The company had a trading volume of 1,722,420 shares, compared to its average volume of 2,047,927. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $60.22 billion, a price-to-earnings ratio of -171.51 and a beta of 1.07. The stock has a fifty day simple moving average of $229.25 and a 200 day simple moving average of $244.62. Atlassian Co. has a 1-year low of $135.29 and a 1-year 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) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 779 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $210.23, for a total transaction of $1,670,908.04. Following the sale, the chief executive officer now owns 246,388 shares in the company, valued at approximately $51,798,149.24. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,565 shares of company stock valued at $64,045,540. 38.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEAM shares. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Mizuho increased their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Barclays increased their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Truist Financial cut their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Wells Fargo & Company cut their price objective on shares of Atlassian from $375.00 to $330.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $301.90.

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.