Atlassian Co. (NASDAQ:TEAM) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TEAM. JPMorgan Chase & Co. grew its position in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Atlassian in the fourth quarter valued at approximately $687,486,000. Invesco Ltd. lifted its holdings in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Atlassian by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after acquiring an additional 27,899 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after acquiring an additional 2,160,810 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of TEAM stock traded up $0.33 during mid-day trading on Wednesday, hitting $211.41. 407,152 shares of the stock were exchanged, compared to its average volume of 2,107,178. The stock's fifty day simple moving average is $212.07 and its two-hundred day simple moving average is $246.64. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of -157.53 and a beta of 1.06. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $0.89 earnings per share. The business's quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on TEAM shares. BMO Capital Markets decreased their price objective on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. UBS Group decreased 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. Truist Financial decreased their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Morgan Stanley decreased their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group decreased 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. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $278.61, for a total transaction of $2,214,392.28. Following the completion of the sale, the director now owns 166,908 shares in the company, valued at approximately $46,502,237.88. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gene Liu sold 121 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $214.88, for a total transaction of $26,000.48. Following the sale, the chief accounting officer now owns 51,360 shares of the company's stock, valued at $11,036,236.80. This trade represents a 0.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,055 shares of company stock worth $62,452,529. Company insiders own 38.55% of the company's stock.

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.