Gotham Asset Management LLC Has $4.90 Million Position in Atlassian Co. (NASDAQ:TEAM)

Gotham Asset Management LLC grew its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 17.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,142 shares of the technology company's stock after purchasing an additional 2,926 shares during the period. Gotham Asset Management LLC's holdings in Atlassian were worth $4,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Corebridge Financial Inc. grew its position in Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock worth $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC lifted its holdings in shares of Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after acquiring an additional 38 shares during the period. Assetmark Inc. lifted its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares during the period. Allworth Financial LP lifted its holdings in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after acquiring an additional 47 shares during the period. Finally, Covenant Partners LLC lifted its holdings in shares of Atlassian by 4.2% during the 4th quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after acquiring an additional 53 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on TEAM. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Raymond James reissued an "outperform" rating and set a $300.00 price target (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. UBS Group cut their price target on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, KeyCorp cut their price target on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $285.29.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 541 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $122,000.91. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the completion of the transaction, the chief executive officer now directly owns 230,492 shares of the company's stock, valued at approximately $72,362,963.40. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,301 shares of company stock valued at $60,975,089. Corporate insiders own 38.55% of the company's stock.

Atlassian Trading Down 0.0%

Shares of TEAM traded down $0.09 on Friday, reaching $220.79. 1,730,232 shares of the company's stock were exchanged, compared to its average volume of 2,096,411. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. 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 stock has a market capitalization of $57.85 billion, a P/E ratio of -164.77 and a beta of 1.06. The business has a 50 day moving average price of $213.69 and a two-hundred day moving average price of $246.60.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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. 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 during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The business's quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

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.