Worldquant Millennium Advisors LLC Buys 4,308 Shares of Atlassian Co. (NASDAQ:TEAM)

Worldquant Millennium Advisors LLC boosted its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,919 shares of the technology company's stock after purchasing an additional 4,308 shares during the period. Worldquant Millennium Advisors LLC owned about 0.10% of Atlassian worth $61,555,000 at the end of the most recent quarter.

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

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of Atlassian 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 completion of the transaction, the director now directly owns 198,700 shares in the company, valued at $56,283,762. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gene Liu sold 541 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares in the company, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,249 shares of company stock worth $61,999,348 over the last three months. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEAM. Truist Financial dropped their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. UBS Group dropped their price target on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Barclays dropped their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Jefferies Financial Group dropped their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Raymond James reaffirmed an "outperform" rating and set a $300.00 price target (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Trading Down 2.9%

NASDAQ:TEAM opened at $214.47 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $56.30 billion, a price-to-earnings ratio of -160.05 and a beta of 1.06. The firm has a fifty day simple moving average of $213.39 and a two-hundred day simple moving average of $247.54. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

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

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.

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