110,894 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Twinbeech Capital LP

Twinbeech Capital LP acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 110,894 shares of the technology company's stock, valued at approximately $26,989,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TEAM. Massachusetts Financial Services Co. MA bought a new position in Atlassian in the fourth quarter valued at approximately $687,486,000. Voya Investment Management LLC lifted its stake in Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. Invesco Ltd. lifted its stake in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP lifted its stake in Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after buying an additional 1,312,820 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60. Following the transaction, the chief executive officer now owns 230,492 shares in the company, valued at approximately $72,362,963.40. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph Leo Binz sold 3,027 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $682,618.77. Following the completion of the transaction, the chief financial officer now owns 164,559 shares in the company, valued at approximately $37,109,700.09. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,301 shares of company stock valued at $60,975,089. 38.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TEAM shares. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and cut their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. The Goldman Sachs Group lifted their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Finally, Barclays lowered their price objective on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Five 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 data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Atlassian Stock Down 0.0%

Shares of TEAM stock opened at $220.79 on Monday. 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 moving average is $213.63 and its 200-day moving average is $247.20. The stock has a market cap of $57.96 billion, a price-to-earnings ratio of -164.77 and a beta of 1.06. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Atlassian's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. Sell-side analysts predict that Atlassian Co. will post -0.34 EPS 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.

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