DGS Capital Management LLC Has $387,000 Stake in Atlassian Co. (NASDAQ:TEAM)

DGS Capital Management LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 19.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,589 shares of the technology company’s stock after selling 391 shares during the period. DGS Capital Management LLC’s holdings in Atlassian were worth $387,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in Atlassian during the third quarter worth approximately $606,000. Sequoia Financial Advisors LLC grew its holdings in shares of Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares in the last quarter. Fulton Bank N.A. bought a new position in shares of Atlassian in the fourth quarter worth $447,000. Paloma Partners Management Co acquired a new position in Atlassian in the third quarter valued at about $1,588,000. Finally, Impax Asset Management Group plc lifted its position in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares during the period. 94.45% of the stock is owned by institutional investors.

Atlassian Price Performance

Atlassian stock opened at $264.81 on Friday. The firm has a market cap of $68.97 billion, a P/E ratio of -174.22 and a beta of 0.83. The stock’s 50 day moving average is $257.68 and its 200 day moving average is $204.80. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned ($0.07) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEAM shares. Scotiabank boosted their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Macquarie started coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective for the company. Cantor Fitzgerald began coverage on Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 target price on the stock. Oppenheimer boosted their price target on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.19.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of Atlassian stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $338,175.00. Following the completion of the sale, the director now owns 8,610 shares of the company’s stock, valued at $1,941,124.50. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,188 shares of company stock worth $67,421,558. Company 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.