Virtu Financial LLC Boosts Stake in Atlassian Co. (NASDAQ:TEAM)

Virtu Financial LLC increased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 77.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,767 shares of the technology company’s stock after buying an additional 2,952 shares during the quarter. Virtu Financial LLC’s holdings in Atlassian were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TEAM. TD Private Client Wealth LLC increased its stake in shares of Atlassian by 9,292.4% in the fourth quarter. TD Private Client Wealth LLC now owns 9,862 shares of the technology company’s stock worth $2,400,000 after acquiring an additional 9,757 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of Atlassian during the fourth quarter worth about $1,414,000. Whittier Trust Co. of Nevada Inc. raised its stake in Atlassian by 164.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the technology company’s stock valued at $142,000 after purchasing an additional 364 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Atlassian by 2,810.2% during the 4th quarter. Whittier Trust Co. now owns 1,426 shares of the technology company’s stock worth $347,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of Atlassian by 12.1% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,450 shares of the technology company’s stock valued at $352,000 after acquiring an additional 157 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM opened at $227.34 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a 50-day simple moving average of $271.24 and a 200-day simple moving average of $236.29. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of -169.66 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 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%. On average, equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the firm’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 completion of the sale, the director now owns 389,452 shares in the company, valued at $98,535,250.52. This trade represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $71,015,177 in the last three months. Insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Canaccord Genuity Group raised their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.77.

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.