GSA Capital Partners LLP Purchases 2,819 Shares of Atlassian Co. (NASDAQ:TEAM)

GSA Capital Partners LLP lifted its position in Atlassian Co. (NASDAQ:TEAM) by 140.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,827 shares of the technology company’s stock after purchasing an additional 2,819 shares during the quarter. GSA Capital Partners LLP’s holdings in Atlassian were worth $767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Advocates Investment Management raised its stake in shares of Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after buying an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the transaction, the chief executive officer now directly owns 214,596 shares of the company’s stock, valued at $33,674,404.32. This trade represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Gene Liu sold 785 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the sale, the chief accounting officer now owns 57,938 shares of the company’s stock, valued at approximately $13,905,120. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,248 shares of company stock worth $45,553,294. Insiders own 38.55% of the company’s stock.

Atlassian Trading Down 4.0 %

TEAM opened at $240.04 on Monday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $187.95 and a 200 day simple moving average of $174.60.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business posted ($0.07) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of a number of analyst reports. JMP Securities upgraded Atlassian to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho upped their price objective on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Barclays decreased their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

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.