Atlassian Co. (NASDAQ:TEAM) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 61.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 459,246 shares of the technology company’s stock after selling 717,551 shares during the quarter. Two Sigma Investments LP’s holdings in Atlassian were worth $111,771,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Tybourne Capital Management HK Ltd. acquired a new stake in shares of Atlassian during the fourth quarter worth about $2,573,000. Temasek Holdings Private Ltd acquired a new stake in shares of Atlassian during the fourth quarter worth about $11,902,000. True Wealth Design LLC boosted its stake in shares of Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company’s stock worth $69,000 after buying an additional 50 shares during the period. Toronto Dominion Bank boosted its stake in shares of Atlassian by 14.6% during the fourth quarter. Toronto Dominion Bank now owns 26,405 shares of the technology company’s stock worth $6,426,000 after buying an additional 3,371 shares during the period. Finally, Scientech Research LLC boosted its stake in shares of Atlassian by 79.0% during the fourth quarter. Scientech Research LLC now owns 5,865 shares of the technology company’s stock worth $1,427,000 after buying an additional 2,589 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Down 0.0%

Shares of Atlassian stock opened at $220.79 on Monday. Atlassian Co. has a 12-month low of $135.29 and a 12-month 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 stock has a market cap of $57.96 billion, a PE ratio of -164.77 and a beta of 1.06. The company has a 50-day moving average of $213.63 and a two-hundred day moving average of $247.20.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TEAM shares. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Jefferies Financial Group reduced their price objective on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Raymond James restated an “outperform” rating and issued a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Five 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.29.

Insider Buying and Selling

In related news, 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 transaction of $526,962.32. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 541 shares of Atlassian stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares of the company’s stock, valued at $11,609,480.31. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,301 shares of company stock worth $60,975,089 in the last ninety days. Insiders own 38.55% of the company’s stock.

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.