Versor Investments LP Has $524,000 Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Versor Investments LP reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 69.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,300 shares of the technology company’s stock after selling 7,500 shares during the quarter. Versor Investments LP’s holdings in Atlassian were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Vanguard Group Inc. grew its holdings in Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Atlassian in the second quarter valued at $469,803,000. Capital International Investors raised its position in Atlassian by 6.3% during the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Atlassian by 6.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after buying an additional 130,253 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Up 3.1 %

Shares of NASDAQ TEAM opened at $252.78 on Thursday. 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 company has a 50-day moving average price of $184.61 and a 200-day moving average price of $173.61. The stock has a market capitalization of $65.83 billion, a P/E ratio of -166.30 and a beta of 0.71. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group increased their target price on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler increased their price objective on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $243.16.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $151.62, for a total transaction of $1,205,075.76. Following the transaction, the chief executive officer now owns 238,440 shares in the company, valued at approximately $36,152,272.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,395 shares of company stock worth $46,787,439. 38.55% of the stock is owned by corporate insiders.

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.