Elwood Capital Partners LP Buys Shares of 14,088 Atlassian Co. (NASDAQ:TEAM)

Elwood Capital Partners LP purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,088 shares of the technology company’s stock, valued at approximately $3,429,000. Atlassian accounts for about 3.4% of Elwood Capital Partners LP’s portfolio, making the stock its 8th largest position.

Several other large investors have also made changes to their positions in TEAM. JPMorgan Chase & Co. boosted its stake in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. Norges Bank acquired a new stake in shares of Atlassian in the 4th quarter valued at approximately $296,697,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlassian in the 4th quarter valued at approximately $234,547,000. Point72 Asset Management L.P. grew its holdings in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was 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 directly owns 389,452 shares of the company’s stock, valued at $98,535,250.52. The trade was a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 263,033 shares of company stock valued at $70,403,022. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Down 2.7 %

Shares of Atlassian stock opened at $212.21 on Tuesday. The stock’s 50-day moving average is $268.47 and its 200 day moving average is $239.44. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market cap of $55.60 billion, a price-to-earnings ratio of -158.36 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 (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) 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%. Equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research reports. The Goldman Sachs Group boosted 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 research report on Friday, January 31st. Jefferies Financial Group reduced their price target on Atlassian from $400.00 to $330.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial lowered their price objective on Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.73.

Atlassian 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.