Trexquant Investment LP Reduces Stock Position in Atlassian Co. (NASDAQ:TEAM)

Trexquant Investment LP cut its stake in Atlassian Co. (NASDAQ:TEAM) by 60.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,193 shares of the technology company’s stock after selling 87,210 shares during the quarter. Trexquant Investment LP’s holdings in Atlassian were worth $14,163,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian during the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new stake in Atlassian in the 4th quarter worth approximately $38,000. Avion Wealth grew its holdings in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the period. Finally, Mainstream Capital Management LLC purchased a new position in Atlassian during the 4th quarter worth approximately $49,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent analyst reports. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial decreased their target price on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group lowered their price target on shares of Atlassian from $330.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group lowered their price objective on Atlassian from $400.00 to $330.00 and set a “buy” rating for the company in a research report on Monday. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $310.18.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $216.41 on Wednesday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a market capitalization of $56.70 billion, a P/E ratio of -161.50 and a beta of 0.91. 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 company’s fifty day moving average price is $267.68 and its 200 day moving average price is $239.81.

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

Insider Activity

In other news, CAO Gene Liu sold 568 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares of the company’s stock, valued at approximately $16,272,475.36. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,981 shares of company stock valued at $72,069,956. 38.55% of the stock is currently owned by company insiders.

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.