Atlassian Co. (NASDAQ:TEAM) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 61.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 459,246 shares of the technology company’s stock after selling 717,551 shares during the period. Two Sigma Investments LP owned 0.18% of Atlassian worth $111,771,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TEAM. JPMorgan Chase & Co. lifted its holdings in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after acquiring an additional 131,621 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Atlassian by 16.7% in the fourth quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company’s stock valued at $1,158,000 after acquiring an additional 682 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Atlassian by 23.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,316 shares of the technology company’s stock valued at $564,000 after acquiring an additional 447 shares during the last quarter. Merit Financial Group LLC acquired a new position in Atlassian in the fourth quarter valued at approximately $726,000. Finally, Premier Path Wealth Partners LLC acquired a new position in Atlassian in the fourth quarter valued at approximately $314,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on TEAM shares. Wells Fargo & Company decreased their price target on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. JMP Securities restated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Macquarie decreased their price target on Atlassian from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group decreased their price target on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Five investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 541 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares of the company’s stock, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the transaction, the chief executive officer now directly owns 230,492 shares in the company, valued at approximately $72,362,963.40. The trade was a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,301 shares of company stock valued at $60,975,089 over the last quarter. 38.55% of the stock is owned by insiders.

Atlassian Stock Performance

NASDAQ:TEAM opened at $220.79 on Monday. The firm has a market capitalization of $57.96 billion, a PE ratio of -164.77 and a beta of 1.06. The business’s fifty day moving average price is $213.63 and its 200 day moving average price is $247.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. On average, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.