Atlassian Co. (NASDAQ:TEAM) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 41,683.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,172 shares of the technology company's stock after acquiring an additional 120,882 shares during the quarter. GAMMA Investing LLC's holdings in Atlassian were worth $25,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the fourth quarter worth $27,000. Colonial Trust Co SC increased its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Atlassian during the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian in the 4th quarter worth about $39,000. Finally, Avion Wealth grew its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Trading Down 1.9%

TEAM traded down $4.09 during midday trading on Friday, hitting $214.51. The company's stock had a trading volume of 1,579,559 shares, compared to its average volume of 2,103,656. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a 50-day moving average price of $209.80 and a two-hundred day moving average price of $244.62. 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 firm has a market cap of $56.31 billion, a P/E ratio of -160.08 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its 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 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 last year, the company earned $0.89 earnings per share. The company's quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,674 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the completion of the sale, the president now owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the sale, the director now owns 119,220 shares of the company's stock, valued at $25,995,921. This represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 336,995 shares of company stock worth $72,016,530 in the last quarter. 38.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. UBS Group reduced their target price on Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Stephens lowered their target price on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Canaccord Genuity Group dropped their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Atlassian presently has a consensus 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.