Dilation Capital Management LP Buys Shares of 20,315 Atlassian Co. (NASDAQ:TEAM)

Dilation Capital Management LP purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,315 shares of the technology company's stock, valued at approximately $4,944,000. Atlassian accounts for about 4.6% of Dilation Capital Management LP's investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. Virtu Financial LLC purchased a new stake in shares of Atlassian in the 3rd quarter valued at about $606,000. SkyView Investment Advisors LLC increased its holdings in Atlassian by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,128 shares of the technology company's stock valued at $656,000 after acquiring an additional 122 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Atlassian by 59.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company's stock valued at $461,000 after buying an additional 1,081 shares during the last quarter. Tidal Investments LLC increased its position in Atlassian by 143.2% during the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company's stock worth $2,002,000 after purchasing an additional 7,422 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Atlassian by 26.4% during the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company's stock valued at $3,170,000 after buying an additional 4,173 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm'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 transaction of $475,121.60. Following the transaction, the president now directly owns 201,657 shares in the company, valued at $63,033,945.06. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 568 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,513 shares of company stock worth $66,183,631 over the last ninety days. Company insiders own 38.55% of the company's stock.

Atlassian Stock Up 1.6 %

TEAM traded up $3.60 during midday trading on Friday, reaching $228.68. 2,545,073 shares of the company were exchanged, compared to its average volume of 2,049,232. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $59.91 billion, a price-to-earnings ratio of -170.66 and a beta of 1.07. The company's fifty day moving average price is $229.25 and its 200 day moving average price is $244.20. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TEAM. JMP Securities restated a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Stephens restated an "equal weight" rating and set a $255.00 price objective on shares of Atlassian in a report on Monday, April 14th. Jefferies Financial Group decreased their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Finally, Macquarie upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and lowered their price target for the stock from $317.00 to $270.00 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $301.90.

Atlassian Company 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.