Sora Investors LLC Sells 38,269 Shares of Atlassian Co. (NASDAQ:TEAM)

Sora Investors LLC cut its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 56.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,635 shares of the technology company's stock after selling 38,269 shares during the period. Sora Investors LLC's holdings in Atlassian were worth $7,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after acquiring an additional 131,621 shares in the last quarter. Wedmont Private Capital acquired a new position in Atlassian in the 4th quarter worth about $221,000. Park Avenue Securities LLC raised its stake in shares of Atlassian by 16.7% during the 4th quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company's stock worth $1,158,000 after purchasing an additional 682 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Atlassian by 23.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,316 shares of the technology company's stock valued at $564,000 after buying an additional 447 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $4,374,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68. Following the completion of the sale, the director now owns 111,272 shares in the company, valued at approximately $24,636,733.52. This trade represents a 6.67% 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 Atlassian stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now directly owns 199,934 shares in the company, valued at $61,147,814.56. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 283,197 shares of company stock valued at $64,494,622 over the last three months. 38.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays cut their price objective on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. KeyCorp cut their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Jefferies Financial Group cut their price objective on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Stock Performance

NASDAQ TEAM traded down $6.32 during trading on Monday, hitting $214.47. The company's stock had a trading volume of 2,741,814 shares, compared to its average volume of 2,102,561. 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 firm has a 50 day moving average price of $213.39 and a 200 day moving average price of $247.54. The firm has a market cap of $56.30 billion, a P/E ratio of -160.05 and a beta of 1.06. 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 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 for the quarter, compared to analyst estimates of $1.35 billion. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. Equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share 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.