Woodline Partners LP Buys Shares of 153,464 Atlassian Co. (NASDAQ:TEAM)

Woodline Partners LP purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 153,464 shares of the technology company's stock, valued at approximately $37,350,000. Woodline Partners LP owned 0.06% of Atlassian as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the fourth quarter worth $27,000. Colonial Trust Co SC grew its position in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC purchased a new position in shares of Atlassian during the 4th quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the 4th quarter valued at about $39,000. Finally, Avion Wealth lifted its holdings in shares of 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 buying an additional 157 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. UBS Group cut their target price on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Morgan Stanley dropped their price target on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Insider Activity

In other news, CAO Gene Liu sold 121 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $214.88, for a total transaction of $26,000.48. Following the completion of the sale, the chief accounting officer now owns 51,360 shares in the company, valued at $11,036,236.80. This trade represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total transaction of $2,303,091.96. Following the sale, the director now directly owns 182,804 shares in the company, valued at approximately $52,971,115.08. The trade was a 4.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,003 shares of company stock valued at $64,755,621. 38.55% of the stock is currently owned by insiders.

Atlassian Price Performance

TEAM traded down $1.55 during trading on Monday, reaching $206.82. The company's stock had a trading volume of 2,037,480 shares, compared to its average volume of 2,115,350. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $212.83 and a two-hundred day simple moving average of $247.11. The company has a market cap of $54.29 billion, a price-to-earnings ratio of -154.34 and a beta of 1.06. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

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