Versor Investments LP Sells 7,500 Shares of Atlassian Co. (NASDAQ:TEAM)

Versor Investments LP reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 69.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,300 shares of the technology company’s stock after selling 7,500 shares during the period. Versor Investments LP’s holdings in Atlassian were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Vanguard Group Inc. increased its position in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian during the 2nd quarter worth approximately $469,803,000. Capital International Investors boosted its holdings in shares of Atlassian by 6.3% in the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after buying an additional 144,117 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Atlassian by 6.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after buying an additional 130,253 shares during the last quarter. 93.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the topic of several analyst reports. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Canaccord Genuity Group upped their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Insider Activity

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76. Following the sale, the chief executive officer now directly owns 238,440 shares of the company’s stock, valued at approximately $36,152,272.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,395 shares of company stock worth $46,787,439. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Trading Up 3.1 %

Shares of NASDAQ:TEAM opened at $252.78 on Thursday. The company has a market capitalization of $65.83 billion, a P/E ratio of -166.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day simple moving average is $184.61 and its 200 day simple moving average is $173.61. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned ($0.07) earnings per share. Atlassian’s revenue was up 21.5% on a year-over-year basis. On average, research analysts anticipate that Atlassian Co. will post -0.56 EPS for the current fiscal year.

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.