Blueshift Asset Management LLC Sells 7,572 Shares of Atlassian Co. (NASDAQ:TEAM)

Blueshift Asset Management LLC decreased its stake in Atlassian Co. (NASDAQ:TEAM) by 68.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other hedge funds also recently modified their holdings of TEAM. Principal Financial Group Inc. grew its holdings in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after acquiring an additional 4,099 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Atlassian by 24.4% during the third quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after purchasing an additional 347 shares during the period. Thrivent Financial for Lutherans grew its holdings in Atlassian by 168.1% during the third quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock worth $1,631,000 after purchasing an additional 6,440 shares during the period. Swiss National Bank grew its holdings in Atlassian by 1.5% during the third quarter. Swiss National Bank now owns 472,867 shares of the technology company’s stock worth $75,096,000 after purchasing an additional 6,900 shares during the period. Finally, Quest Partners LLC grew its holdings in Atlassian by 18.3% during the third quarter. Quest Partners LLC now owns 2,135 shares of the technology company’s stock worth $339,000 after purchasing an additional 330 shares during the period. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TEAM. Raymond James reiterated an “outperform” rating and set a $330.00 price target (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Oppenheimer lifted their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $229.86 on Thursday. The company’s 50 day simple moving average is $271.91 and its 200 day simple moving average is $235.42. The stock has a market capitalization of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91. 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 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the completion of the transaction, the chief executive officer now directly owns 71,532 shares in the company, valued at approximately $15,515,290.80. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gene Liu sold 779 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 264,553 shares of company stock valued at $71,627,261 over the last three months. 38.55% of the stock is owned by insiders.

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.