Atlassian Co. (NASDAQ:TEAM) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 38.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,969 shares of the technology company’s stock after selling 18,054 shares during the quarter. Atlassian accounts for 0.7% of Headlands Technologies LLC’s investment portfolio, making the stock its 21st biggest position. Headlands Technologies LLC’s holdings in Atlassian were worth $7,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Virtu Financial LLC bought a new stake in Atlassian during the 3rd quarter valued at $606,000. Fulton Bank N.A. bought a new stake in shares of Atlassian during the fourth quarter valued at about $447,000. Paloma Partners Management Co acquired a new stake in Atlassian in the third quarter worth about $1,588,000. Allworth Financial LP grew its position in Atlassian by 3.1% in 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 in the last quarter. Finally, Nordea Investment Management AB increased its stake in Atlassian by 20.1% during the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after buying an additional 5,088 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Down 2.7 %

Shares of Atlassian stock opened at $212.21 on Tuesday. 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 Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a 50-day moving average price of $268.47 and a 200 day moving average price of $239.44. The company has a market cap of $55.60 billion, a P/E ratio of -158.36 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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 expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of several recent analyst reports. UBS Group increased their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Mizuho increased their price target on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Truist Financial lowered their target price on Atlassian from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.73.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Friday, March 28th. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24. Following the completion of the sale, the chief executive officer now owns 7,948 shares of the company’s stock, valued at approximately $1,721,775.24. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $70,403,022 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

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.