Virtu Financial LLC Takes Position in Atlassian Co. (NASDAQ:TEAM)

Virtu Financial LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,815 shares of the technology company’s stock, valued at approximately $606,000.

A number of other institutional investors have also recently bought and sold shares of TEAM. Asset Dedication LLC boosted its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian during the 2nd quarter worth $36,000. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. GAMMA Investing LLC grew its stake in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. Finally, Reston Wealth Management LLC bought a new stake in shares of Atlassian in the third quarter worth about $48,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling

In other news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total transaction of $825,000.00. Following the completion of the sale, the director now owns 5,610 shares in the company, valued at approximately $1,542,750. This trade represents a 34.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $278.20, for a total transaction of $2,211,133.60. Following the completion of the transaction, the chief executive officer now owns 95,376 shares in the company, valued at approximately $26,533,603.20. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,590 shares of company stock worth $58,284,749. Company insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird increased their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley boosted their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Truist Financial increased their target price on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.50.

Atlassian Price Performance

NASDAQ:TEAM opened at $278.65 on Friday. The stock has a market capitalization of $72.57 billion, a PE ratio of -183.32 and a beta of 0.80. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The firm has a fifty day simple moving average of $229.09 and a 200 day simple moving average of $186.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. On average, research analysts expect that Atlassian Co. will post -0.54 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.