Atlassian Co. (NASDAQ:TEAM) Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its stake in Atlassian Co. (NASDAQ:TEAM) by 66.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,800 shares of the technology company’s stock after selling 13,711 shares during the quarter. Entropy Technologies LP’s holdings in Atlassian were worth $1,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. CWM LLC increased its stake in Atlassian by 270.6% during the 3rd quarter. CWM LLC now owns 7,875 shares of the technology company’s stock worth $1,251,000 after buying an additional 5,750 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Atlassian by 227.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,214 shares of the technology company’s stock valued at $193,000 after acquiring an additional 843 shares during the last quarter. Creative Planning lifted its position in shares of Atlassian by 32.3% in the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 1,941 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Atlassian by 4.2% in the third quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock worth $10,090,000 after acquiring an additional 2,539 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 1.5 %

NASDAQ:TEAM opened at $314.28 on Monday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average is $265.92 and its two-hundred day moving average is $213.13. The stock has a market capitalization of $82.34 billion, a price-to-earnings ratio of -234.54 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 165 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the transaction, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at $13,871,030.32. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,705 shares of company stock worth $67,890,023. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TEAM. Jefferies Financial Group increased their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Canaccord Genuity Group increased their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Macquarie boosted their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley increased their price objective on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.