Tidal Investments LLC Decreases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Tidal Investments LLC lessened its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,744 shares of the technology company's stock after selling 3,861 shares during the period. Tidal Investments LLC's holdings in Atlassian were worth $2,128,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC raised its holdings in Atlassian by 100.0% during the 4th 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 during the last quarter. Summit Securities Group LLC purchased a new stake in Atlassian during the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian during the 4th quarter valued at $39,000. Finally, Avion Wealth grew its holdings in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after acquiring an additional 157 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO Joseph Leo Binz sold 1,770 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $214.87, for a total value of $380,319.90. Following the completion of the transaction, the chief financial officer now owns 162,789 shares of the company's stock, valued at approximately $34,978,472.43. The trade was a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48. Following the transaction, the director now owns 198,700 shares in the company, valued at $56,283,762. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,055 shares of company stock worth $63,723,335. Insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TEAM shares. Wall Street Zen lowered shares of Atlassian from a "buy" rating to a "hold" rating in a report on Thursday. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Wells Fargo & Company reduced their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. KeyCorp dropped their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Canaccord Genuity Group cut their price target on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Five 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Atlassian Stock Down 0.4%

TEAM stock opened at $208.37 on Friday. The business has a 50 day moving average of $213.08 and a 200 day moving average of $246.97. The firm has a market cap of $54.70 billion, a PE ratio of -155.50 and a beta of 1.06. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.