Atlassian Co. (NASDAQ:TEAM) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 33.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,160 shares of the technology company’s stock after selling 44,000 shares during the quarter. Soros Fund Management LLC’s holdings in Atlassian were worth $20,970,000 at the end of the most recent reporting period.

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

Insider Activity at Atlassian

In other news, 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 owns 199,934 shares in the company, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the transaction, the director now owns 333,816 shares of the company’s stock, valued at approximately $61,959,587.76. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,513 shares of company stock worth $65,866,506 in the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of several recent analyst reports. Barclays upped their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley cut their price target on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler upped their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $301.90.

Atlassian Stock Performance

Shares of TEAM opened at $229.83 on Tuesday. The firm has a 50-day moving average price of $227.77 and a 200 day moving average price of $244.92. The firm has a market capitalization of $60.22 billion, a PE ratio of -171.51 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. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

About Atlassian

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.