Quantinno Capital Management LP Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Quantinno Capital Management LP grew its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 43.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,213 shares of the technology company's stock after buying an additional 5,832 shares during the period. Quantinno Capital Management LP's holdings in Atlassian were worth $4,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. JPMorgan Chase & Co. lifted its stake in Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $221,000. Park Avenue Securities LLC lifted its position in Atlassian by 16.7% during the fourth quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company's stock worth $1,158,000 after buying an additional 682 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Atlassian by 23.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,316 shares of the technology company's stock worth $564,000 after buying an additional 447 shares during the last quarter. Finally, Everpar Advisors LLC purchased a new stake in Atlassian in the 4th quarter valued at $211,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 214,596 shares of the company's stock, valued at approximately $63,844,455.96. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 7,674 shares of the firm's stock in a transaction that occurred on 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 transaction, the president now owns 192,260 shares in the company, valued at approximately $43,356,552.60. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 295,003 shares of company stock worth $66,087,944 over the last 90 days. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Down 2.5%

Shares of NASDAQ:TEAM traded down $5.32 on Wednesday, hitting $209.17. 1,718,039 shares of the company's stock were exchanged, compared to its average volume of 2,102,644. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company 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 firm's 50-day moving average is $213.33 and its 200 day moving average is $247.04.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Finally, Macquarie lowered their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.