Ardsley Advisory Partners LP Invests $3.15 Million in Atlassian Co. (NASDAQ:TEAM)

Ardsley Advisory Partners LP acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,950 shares of the technology company's stock, valued at approximately $3,152,000.

Other large investors have also recently made changes to their positions in the company. AlTi Global Inc. purchased a new stake in Atlassian during the fourth quarter worth about $477,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Atlassian during the 4th quarter valued at approximately $4,606,000. Keel Point LLC purchased a new stake in shares of Atlassian during the 4th quarter worth approximately $221,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Atlassian by 6.8% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 35,449 shares of the technology company's stock worth $8,628,000 after purchasing an additional 2,253 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in Atlassian in the fourth quarter valued at approximately $10,805,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of TEAM stock traded down $0.70 during trading on Monday, hitting $207.78. The company had a trading volume of 2,339,477 shares, compared to its average volume of 2,073,943. The stock's 50-day moving average is $220.99 and its two-hundred day moving average is $245.96. The stock has a market capitalization of $54.44 billion, a price-to-earnings ratio of -155.06 and a beta of 1.06. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total value of $475,121.60. Following the completion of the sale, the president now owns 201,657 shares of the company's stock, valued at $63,033,945.06. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.69, for a total transaction of $2,509,104.12. Following the transaction, the director now owns 278,180 shares in the company, valued at $87,818,644.20. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,734 shares of company stock worth $63,835,594 over the last 90 days. Corporate insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TEAM. Jefferies Financial Group decreased their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Truist Financial lowered their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Scotiabank upped their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and issued a $300.00 target price (down previously from $330.00) on shares of Atlassian in a research note on Friday. Finally, Morgan Stanley dropped their price target on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $285.29.

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.