Hudson Bay Capital Management LP Has $17.77 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Hudson Bay Capital Management LP grew its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 61.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,004 shares of the technology company's stock after purchasing an additional 27,652 shares during the period. Hudson Bay Capital Management LP's holdings in Atlassian were worth $17,768,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new position in Atlassian during the 4th quarter valued at $27,000. Colonial Trust Co SC lifted its position in shares of Atlassian by 100.0% during the fourth 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 in the last quarter. Summit Securities Group LLC purchased a new position in Atlassian during the fourth quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian during the fourth quarter worth about $39,000. Finally, Avion Wealth increased 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 buying an additional 157 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 0.5 %

Shares of Atlassian stock opened at $207.25 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a market cap of $54.30 billion, a PE ratio of -154.66 and a beta of 1.06. The company has a 50 day simple moving average of $215.36 and a two-hundred day simple moving average of $246.01.

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

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the transaction, the president now directly owns 201,657 shares of the company's stock, valued at approximately $63,033,945.06. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the completion of the sale, the chief executive officer now directly owns 270,232 shares of the company's stock, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,734 shares of company stock worth $62,098,082 over the last ninety days. Insiders own 38.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. StockNews.com downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Canaccord Genuity Group dropped their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Oppenheimer increased their price objective on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian 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.

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