Atlassian Co. (NASDAQ:TEAM) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co decreased its position in Atlassian Co. (NASDAQ:TEAM) by 75.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,452 shares of the technology company’s stock after selling 7,548 shares during the quarter. Paloma Partners Management Co’s holdings in Atlassian were worth $597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in Atlassian during the 3rd quarter valued at approximately $606,000. Fulton Bank N.A. acquired a new stake in shares of Atlassian during the fourth quarter worth about $447,000. Allworth Financial LP raised its position in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares during the last quarter. Nordea Investment Management AB grew its stake in Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after purchasing an additional 5,088 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after acquiring an additional 4,099 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $308.86, for a total value of $2,454,819.28. Following the sale, the director now owns 317,920 shares in the company, valued at $98,192,771.20. This represents a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the sale, the president now owns 199,934 shares of the company’s stock, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,513 shares of company stock valued at $65,866,506. 38.55% of the stock is currently owned by insiders.

Atlassian Trading Up 0.5 %

NASDAQ TEAM opened at $229.83 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $60.22 billion, a P/E ratio of -171.51 and a beta of 1.07. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock’s 50-day moving average is $227.77 and its 200-day moving average is $244.92.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. BMO Capital Markets reduced their price objective on shares of Atlassian from $360.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Scotiabank raised their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Citigroup raised their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target 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.