Jacobs Levy Equity Management Inc. Sells 74,889 Shares of Atlassian Co. (NASDAQ:TEAM)

Jacobs Levy Equity Management Inc. lessened its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,107,484 shares of the technology company's stock after selling 74,889 shares during the quarter. Atlassian comprises 1.0% of Jacobs Levy Equity Management Inc.'s holdings, making the stock its 18th biggest position. Jacobs Levy Equity Management Inc. owned 0.42% of Atlassian worth $269,539,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian during the 4th quarter valued at $27,000. Colonial Trust Co SC raised its stake in Atlassian by 100.0% in the fourth 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 in the fourth quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian in the fourth quarter worth about $39,000. Finally, Avion Wealth grew its stake in shares of Atlassian by 1,308.3% during the fourth 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TEAM shares. Piper Sandler reiterated an "overweight" rating and issued a $300.00 target price (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Citigroup upped their target price on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price target on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Barclays cut their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Insider Activity at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.58, for a total value 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. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 260,734 shares of company stock valued at $62,098,082. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Down 0.5 %

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. The stock has a market capitalization of $54.30 billion, a PE ratio of -154.66 and a beta of 1.06. The business has a 50 day simple moving average of $215.36 and a 200-day simple moving average of $246.01. 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 data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.35 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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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