Alyeska Investment Group L.P. Sells 165,613 Shares of Atlassian Co. (NASDAQ:TEAM)

Alyeska Investment Group L.P. trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 389,399 shares of the technology company's stock after selling 165,613 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.15% of Atlassian worth $94,772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TEAM. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian during the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian in the fourth quarter valued at about $39,000. Avion Wealth lifted its position in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares in the last quarter. Finally, Assetmark Inc. increased its position in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday. Oppenheimer lifted their target price on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Barclays cut their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday. KeyCorp lowered their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and cut their target price for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Stock Down 0.3 %

TEAM stock traded down $0.70 during mid-day trading on Monday, hitting $207.78. 2,339,477 shares of the company were exchanged, compared to its average volume of 2,073,943. The firm has a market cap of $54.44 billion, a P/E ratio of -155.06 and a beta of 1.06. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. 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 firm's 50 day simple moving average is $220.99 and its 200 day simple moving average is $245.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.89 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.58, for a total transaction of $475,121.60. Following the sale, the president now directly owns 201,657 shares of the company's stock, valued at $63,033,945.06. The trade was a 0.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, February 7th. The stock was 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 of the company's stock, valued at approximately $87,818,644.20. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,734 shares of company stock worth $63,835,594. 38.55% of the stock is owned by corporate insiders.

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.