Versor Investments LP Trims Position in Atlassian Co. (NASDAQ:TEAM)

Versor Investments LP decreased its holdings in Atlassian Co. (NASDAQ:TEAM) by 30.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,294 shares of the technology company’s stock after selling 1,006 shares during the quarter. Versor Investments LP’s holdings in Atlassian were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of Atlassian in the 3rd quarter worth about $606,000. Fulton Bank N.A. purchased a new stake in Atlassian in the fourth quarter worth about $447,000. Paloma Partners Management Co bought a new stake in Atlassian during the 3rd quarter valued at approximately $1,588,000. Allworth Financial LP boosted its position in 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 acquiring an additional 47 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TEAM. Canaccord Genuity Group raised their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Piper Sandler upped their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Scotiabank lifted their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Trading Up 2.1 %

Atlassian stock opened at $284.26 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a market cap of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a 50-day simple moving average of $275.25 and a two-hundred day simple moving average of $227.71.

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 the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Heather Mirjahangir Fernandez sold 3,000 shares of Atlassian stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total transaction of $825,000.00. Following the transaction, the director now owns 5,610 shares of the company’s stock, valued at $1,542,750. The trade was a 34.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the completion of the transaction, the director now owns 158,960 shares of the company’s stock, valued at approximately $42,277,001.60. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,501 shares of company stock valued at $75,853,687. Company 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.