Atlassian Co. (NASDAQ:TEAM) Stock Position Cut by AQR Capital Management LLC

AQR Capital Management LLC trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 698,385 shares of the technology company’s stock after selling 46,592 shares during the period. AQR Capital Management LLC’s holdings in Atlassian were worth $169,973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $27,000. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the 4th quarter valued at $39,000. Avion Wealth lifted its stake in shares of Atlassian by 1,308.3% in the 4th 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 last quarter. Finally, Assetmark Inc. lifted its stake in shares of Atlassian by 30.6% in the 4th 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 last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald raised shares of Atlassian from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Stephens reissued an “equal weight” rating and set a $255.00 target price on shares of Atlassian in a research report on Monday, April 14th. KeyCorp cut their target price on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $301.90.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 779 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $229.11, for a total value of $1,820,966.28. Following the transaction, the director now owns 230,492 shares in the company, valued at $52,808,022.12. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,513 shares of company stock valued at $65,866,506 over the last quarter. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 0.5 %

TEAM stock opened at $229.83 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $60.22 billion, a P/E ratio of -171.51 and a beta of 1.07. The business has a 50-day moving average of $227.77 and a 200-day moving average of $244.92. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts anticipate 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.