Cooper Creek Partners Management LLC Reduces Position in Atlassian Co. (NASDAQ:TEAM)

Cooper Creek Partners Management LLC reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,288 shares of the technology company’s stock after selling 32,899 shares during the period. Cooper Creek Partners Management LLC’s holdings in Atlassian were worth $36,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Townsquare Capital LLC boosted its holdings in shares of Atlassian by 53.4% during the 4th quarter. Townsquare Capital LLC now owns 2,052 shares of the technology company’s stock worth $499,000 after purchasing an additional 714 shares during the last quarter. Fortis Capital Advisors LLC purchased a new position in Atlassian during the fourth quarter worth approximately $934,000. Sterling Capital Management LLC lifted its position in Atlassian by 4.6% during the fourth quarter. Sterling Capital Management LLC now owns 44,908 shares of the technology company’s stock worth $10,930,000 after buying an additional 1,966 shares in the last quarter. Whetstone Capital Advisors LLC grew its holdings in Atlassian by 0.4% in the 4th quarter. Whetstone Capital Advisors LLC now owns 31,573 shares of the technology company’s stock valued at $7,684,000 after buying an additional 117 shares in the last quarter. Finally, Harbert Fund Advisors Inc. purchased a new stake in Atlassian in the 4th quarter valued at $1,217,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM opened at $198.37 on Friday. The firm has a market capitalization of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. The firm’s fifty day simple moving average is $251.13 and its 200-day simple moving average is $241.25. Atlassian Co. has a twelve month low of $135.29 and a twelve month 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.

Atlassian (NASDAQ:TEAM) last posted its quarterly 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $195.56, for a total transaction of $1,554,310.88. Following the sale, the chief executive officer now directly owns 317,920 shares in the company, valued at $62,172,435.20. This trade represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 779 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $68,608,284 over the last 90 days. 38.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TEAM shares. Scotiabank boosted 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. The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Atlassian from $375.00 to $330.00 and set an “overweight” rating for the company in a report on Thursday. Canaccord Genuity Group upped their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Macquarie raised Atlassian from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $317.00 to $270.00 in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $297.50.

Atlassian 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.