Rafferty Asset Management LLC Reduces Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Rafferty Asset Management LLC lessened its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 24.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,562 shares of the technology company's stock after selling 20,270 shares during the period. Rafferty Asset Management LLC's holdings in Atlassian were worth $15,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG purchased a new stake in shares of Atlassian during the 4th quarter worth $570,000. Polar Asset Management Partners Inc. acquired a new stake in Atlassian in the fourth quarter valued at $1,606,000. Polar Capital Holdings Plc purchased a new stake in Atlassian during the 4th quarter worth about $5,565,000. ProShare Advisors LLC boosted its position in shares of Atlassian by 22.0% during the 4th quarter. ProShare Advisors LLC now owns 183,288 shares of the technology company's stock worth $44,609,000 after acquiring an additional 33,006 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Atlassian by 43.6% during the 4th quarter. Quantinno Capital Management LP now owns 19,213 shares of the technology company's stock worth $4,676,000 after acquiring an additional 5,832 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 7,674 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares of the company's stock, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $214.92, for a total transaction of $1,708,184.16. Following the completion of the sale, the director now owns 103,324 shares of the company's stock, valued at $22,206,394.08. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 295,003 shares of company stock valued at $66,087,944 over the last ninety days. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of Atlassian stock traded down $3.92 during trading hours on Wednesday, hitting $210.57. 521,673 shares of the company were exchanged, compared to its average volume of 2,098,112. 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 business has a 50-day moving average of $213.39 and a 200-day moving average of $247.54. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market capitalization of $55.28 billion, a price-to-earnings ratio of -158.68 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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 company 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 EPS. Atlassian's quarterly revenue was up 14.1% on a year-over-year basis. As a group, analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Macquarie cut their price objective on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. KeyCorp lowered their target price 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. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, UBS Group reduced their price target on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Five equities research 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $285.29.

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.