Quantbot Technologies LP Sells 52,679 Shares of Atlassian Co. (NASDAQ:TEAM)

Quantbot Technologies LP decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 82.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,211 shares of the technology company’s stock after selling 52,679 shares during the period. Quantbot Technologies LP’s holdings in Atlassian were worth $2,729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. raised its stake in Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares in the last quarter. Two Sigma Advisers LP raised its stake in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Atlassian in the 3rd quarter worth about $57,149,000. Los Angeles Capital Management LLC raised its stake in Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after purchasing an additional 226,246 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new stake in Atlassian in the 4th quarter worth about $47,469,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 0.5 %

TEAM opened at $227.34 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $59.56 billion, a price-to-earnings ratio of -169.66 and a beta of 0.91. The company’s 50 day moving average price is $271.24 and its two-hundred day moving average price is $236.29.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the sale, the director now directly owns 119,220 shares in the company, valued at approximately $25,995,921. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,033 shares of company stock valued at $71,015,177. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Macquarie boosted their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.77.

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.