Atlassian Co. (NASDAQ:TEAM) Shares Sold by Sora Investors LLC

Sora Investors LLC reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 56.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,635 shares of the technology company’s stock after selling 38,269 shares during the period. Sora Investors LLC’s holdings in Atlassian were worth $7,213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TEAM. JPMorgan Chase & Co. boosted its stake in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Atlassian in the 4th quarter valued at about $687,486,000. Invesco Ltd. lifted its stake in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC boosted its holdings in Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock worth $528,851,000 after buying an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock worth $528,693,000 after buying an additional 2,160,810 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research analyst reports. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Baird R W raised Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Oppenheimer increased their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Barclays cut their target price on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $285.29.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $72,362,963.40. This represents a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 541 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the sale, the chief accounting officer now directly owns 51,481 shares of the company’s stock, valued at $11,609,480.31. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,301 shares of company stock worth $60,975,089 in the last quarter. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

TEAM stock opened at $220.88 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 market capitalization of $57.87 billion, a P/E ratio of -164.83 and a beta of 1.06. The company has a 50-day simple moving average of $213.69 and a 200 day simple moving average of $246.60. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

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.