6,600 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,600 shares of the technology company’s stock, valued at approximately $1,606,000.

A number of other institutional investors also recently bought and sold shares of TEAM. JPMorgan Chase & Co. boosted its position in Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Atlassian during the fourth quarter worth $262,000. Avior Wealth Management LLC grew its position in Atlassian by 66.8% during the fourth quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock valued at $123,000 after buying an additional 203 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Atlassian during the fourth quarter valued at $277,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Atlassian in the fourth quarter valued at $299,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Gene Liu sold 541 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the sale, the chief accounting officer now directly owns 51,481 shares in the company, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $289.77, for a total transaction of $2,303,091.96. Following the transaction, the director now directly owns 182,804 shares in the company, valued at $52,971,115.08. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,003 shares of company stock worth $64,755,621. 38.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Baird R W raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Stephens lowered their price target on Atlassian from $255.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Barclays reduced their target price on Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Jefferies Financial Group decreased their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Five investment 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 company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $285.29.

Atlassian Stock Performance

NASDAQ:TEAM opened at $206.82 on Tuesday. The company has a market cap of $54.29 billion, a P/E ratio of -154.34 and a beta of 1.06. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company’s 50-day moving average price is $212.37 and its 200-day moving average price is $246.89. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. On average, sell-side analysts forecast 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.