GF Fund Management CO. LTD. Takes Position in Atlassian Co. (NASDAQ:TEAM)

GF Fund Management CO. LTD. acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,599 shares of the technology company's stock, valued at approximately $7,447,000.

A number of other hedge funds also recently bought and sold shares of TEAM. JPMorgan Chase & Co. raised its holdings in Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock valued at $393,588,000 after acquiring an additional 131,621 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Atlassian in the 4th quarter valued at about $262,000. Atomi Financial Group Inc. purchased a new stake in shares of Atlassian in the 4th quarter valued at approximately $440,000. Avior Wealth Management LLC grew its stake in shares of Atlassian by 66.8% in the 4th quarter. Avior Wealth Management LLC now owns 507 shares of the technology company's stock valued at $123,000 after buying an additional 203 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Atlassian by 7.7% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 9,141 shares of the technology company's stock valued at $2,225,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 7,674 shares of Atlassian 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 sale, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, April 7th. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the sale, the director now owns 333,816 shares in the company, valued at $61,959,587.76. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,951 shares of company stock worth $65,803,565 in the last ninety days. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Down 4.3%

Shares of TEAM traded down $9.10 during midday trading on Thursday, reaching $203.93. The stock had a trading volume of 2,862,007 shares, compared to its average volume of 2,107,553. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company's fifty day simple moving average is $211.78 and its two-hundred day simple moving average is $246.41. The company has a market cap of $53.53 billion, a price-to-earnings ratio of -152.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business earned $0.89 EPS. The company's revenue was up 14.1% on a year-over-year basis. Equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. UBS Group dropped their price target on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Mizuho increased their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Finally, Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and an average 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.