Blueshift Asset Management LLC Has $855,000 Holdings in Atlassian Co. (NASDAQ:TEAM)

Blueshift Asset Management LLC trimmed its stake in Atlassian Co. (NASDAQ:TEAM) by 68.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,513 shares of the technology company’s stock after selling 7,572 shares during the period. Blueshift Asset Management LLC’s holdings in Atlassian were worth $855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the period. Avion Wealth increased its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. increased its holdings in 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. Mainstream Capital Management LLC acquired a new stake in Atlassian in the fourth quarter valued at $49,000. Finally, Kestra Investment Management LLC acquired a new stake in Atlassian in the fourth quarter valued at $56,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48. Following the transaction, the director now owns 389,452 shares in the company, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated 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 in the company, valued at $16,867,727.10. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,553 shares of company stock valued at $71,627,261 over the last three months. Insiders own 38.55% of the company’s stock.

Atlassian Stock Up 4.7 %

Shares of NASDAQ:TEAM opened at $229.86 on Thursday. The firm has a fifty day moving average price of $271.91 and a two-hundred day moving average price of $235.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a market cap of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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%. Analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEAM. William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Citigroup upped their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Stephens assumed coverage on shares of Atlassian in a research report on Wednesday. They set an “equal weight” rating and a $255.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

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.