Atlassian Co. (NASDAQ:TEAM) Position Lessened by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC decreased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 96.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 953 shares of the technology company's stock after selling 28,158 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Atlassian were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian during the 4th quarter worth about $27,000. Summit Securities Group LLC purchased a new stake in shares of Atlassian during the 4th quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian during the 4th quarter worth about $39,000. Avion Wealth grew its holdings in shares of 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 purchasing an additional 157 shares during the period. Finally, Assetmark Inc. lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $0.09 on Friday, hitting $220.79. The company's stock had a trading volume of 1,730,232 shares, 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 market capitalization of $57.85 billion, a price-to-earnings ratio of -164.77 and a beta of 1.06. The stock's 50-day moving average is $213.69 and its two-hundred day moving average is $246.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 541 shares of the stock in a transaction on Wednesday, May 14th. The stock was 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 in the company, valued at $11,609,480.31. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,301 shares of company stock valued at $60,975,089. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TEAM. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and reduced their price target for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. Mizuho boosted their price target on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Canaccord Genuity Group cut their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, UBS Group cut their target price on Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Five equities research 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 data from MarketBeat, the stock has an average 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.