Atlassian Co. (NASDAQ:TEAM) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lowered its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,246 shares of the technology company's stock after selling 717,551 shares during the period. Two Sigma Investments LP owned approximately 0.18% of Atlassian worth $111,771,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Atlassian by 72.9% during the 4th 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 during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Atlassian during the 4th quarter worth $687,486,000. Invesco Ltd. lifted its stake in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC lifted its stake in shares of Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Down 2.5%

Shares of NASDAQ TEAM traded down $5.32 during midday trading on Wednesday, reaching $209.17. 1,718,039 shares of the company's stock were exchanged, compared to its average volume of 2,107,664. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market capitalization of $54.91 billion, a PE ratio of -156.10 and a beta of 1.06. 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 business's fifty day moving average price is $213.33 and its two-hundred day moving average price is $247.04.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48. Following the completion of the transaction, the chief executive officer now directly owns 214,596 shares in the company, valued at approximately $63,844,455.96. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph Leo Binz sold 3,027 shares of Atlassian stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $682,618.77. Following the completion of the transaction, the chief financial officer now owns 164,559 shares of the company's stock, valued at $37,109,700.09. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 295,003 shares of company stock valued at $66,087,944. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEAM. Jefferies Financial Group reduced their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company reduced their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. UBS Group reduced their price target on Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and set a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, Mizuho increased their target price on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus 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.