Voyager Global Management LP Takes $24.34 Million Position in Atlassian Co. (NASDAQ:TEAM)

Voyager Global Management LP acquired a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 100,000 shares of the technology company's stock, valued at approximately $24,338,000. Atlassian accounts for 1.0% of Voyager Global Management LP's holdings, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC bought a new stake in Atlassian during the third quarter valued at approximately $606,000. Fulton Bank N.A. bought a new position in Atlassian during the 4th quarter valued at about $447,000. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares during the last quarter. Nordea Investment Management AB increased its holdings in Atlassian by 20.1% during the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock worth $7,458,000 after purchasing an additional 5,088 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after purchasing an additional 4,099 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 779 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares of the company's stock, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, January 31st. The stock was sold at an average price of $308.86, for a total transaction of $2,454,819.28. Following the transaction, the director now directly owns 317,920 shares in the company, valued at approximately $98,192,771.20. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 261,513 shares of company stock worth $65,540,320. 38.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TEAM. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com downgraded Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Stephens restated an "equal weight" rating and issued a $255.00 price objective on shares of Atlassian in a research note on Monday, April 14th. Raymond James reiterated an "outperform" rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, William Blair reissued an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $301.90.

Atlassian Trading Down 1.5 %

TEAM stock traded down $3.32 during trading on Wednesday, hitting $225.17. The company had a trading volume of 603,552 shares, compared to its average volume of 2,284,456. The stock has a market cap of $58.99 billion, a price-to-earnings ratio of -168.04 and a beta of 1.07. 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 $226.37 and a 200-day moving average price of $244.81. 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 announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

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.