Maytus Capital Management LLC Sells 20,000 Shares of Atlassian Co. (NASDAQ:TEAM)

Maytus Capital Management LLC lessened its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the technology company's stock after selling 20,000 shares during the period. Atlassian comprises 1.7% of Maytus Capital Management LLC's holdings, making the stock its 29th biggest holding. Maytus Capital Management LLC's holdings in Atlassian were worth $4,868,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the fourth quarter worth $27,000. Colonial Trust Co SC boosted its holdings in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new position in Atlassian in the 4th quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian in the 4th quarter worth about $39,000. Finally, Avion Wealth raised its position in Atlassian by 1,308.3% in the fourth 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 and hedge funds own 94.45% of the company's stock.

Atlassian Stock Up 7.8%

TEAM opened at $223.75 on Tuesday. 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 stock has a market cap of $58.62 billion, a PE ratio of -166.98 and a beta of 1.06. The business's fifty day simple moving average is $214.30 and its 200 day simple moving average is $246.65. Atlassian Co. has a 52 week low of $135.29 and a 52 week 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 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $0.89 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. As a group, research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 568 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now directly owns 52,142 shares of the company's stock, valued at $16,272,475.36. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $315.74, for a total transaction of $2,509,501.52. Following the sale, the chief executive officer now owns 254,336 shares of the company's stock, valued at approximately $80,304,048.64. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,786 shares of company stock worth $59,536,362. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TEAM has been the subject of several recent research reports. Stephens decreased their price target on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Truist Financial lowered their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Finally, Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $285.29.

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.

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