Moore Capital Management LP Buys New Stake in Atlassian Co. (NASDAQ:TEAM)

Moore Capital Management LP acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,132 shares of the technology company's stock, valued at approximately $762,000.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian in the 4th quarter valued at $687,486,000. Invesco Ltd. grew its holdings in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC increased its holdings in Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 0.0%

Shares of NASDAQ TEAM traded down $0.09 during mid-day trading on Friday, hitting $220.79. The company had a trading volume of 1,730,232 shares, compared to its average volume of 2,096,411. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. 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 company has a market capitalization of $57.85 billion, a PE ratio of -164.77 and a beta of 1.06. The firm has a 50-day simple moving average of $213.69 and a two-hundred day simple moving average of $246.60.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, equities analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60. Following the transaction, the chief executive officer now owns 230,492 shares of the company's stock, valued at approximately $72,362,963.40. This trade represents a 3.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,301 shares of company stock worth $60,975,089. Corporate insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEAM. 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. Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and cut their target price for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, KeyCorp lowered their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. 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 stock. According to MarketBeat.com, Atlassian has an average 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.