Atlassian Co. (NASDAQ:TEAM) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC decreased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 96.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 953 shares of the technology company’s stock after selling 28,158 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Atlassian were worth $232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Candlestick Capital Management LP acquired a new stake in shares of Atlassian during the fourth quarter worth about $45,773,000. Lido Advisors LLC lifted its position in Atlassian by 6.2% during the 4th quarter. Lido Advisors LLC now owns 1,788 shares of the technology company’s stock worth $435,000 after acquiring an additional 104 shares during the period. Northern Trust Corp grew its stake in shares of Atlassian by 14.8% in the 4th quarter. Northern Trust Corp now owns 1,383,673 shares of the technology company’s stock valued at $336,758,000 after purchasing an additional 178,354 shares during the last quarter. Insight Holdings Group LLC grew its stake in shares of Atlassian by 10.0% in the 4th quarter. Insight Holdings Group LLC now owns 120,700 shares of the technology company’s stock valued at $29,376,000 after purchasing an additional 11,000 shares during the last quarter. Finally, NZS Capital LLC acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $24,679,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at approximately $16,272,475.36. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the transaction, the chief executive officer now owns 230,492 shares in the company, valued at $72,362,963.40. The trade was a 3.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,786 shares of company stock valued at $58,795,052. 38.55% of the stock is owned by corporate insiders.

Atlassian Price Performance

Shares of TEAM stock opened at $229.52 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $214.30 and its 200-day moving average is $246.65. The firm has a market capitalization of $60.13 billion, a price-to-earnings ratio of -171.28 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $0.89 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEAM. Mizuho lifted 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. Macquarie cut their price target on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Barclays decreased their price objective on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Stephens reduced their price target on shares of Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Finally, Oppenheimer boosted their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

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.