Entropy Technologies LP Sells 4,721 Shares of Atlassian Co. (NASDAQ:TEAM)

Entropy Technologies LP lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,511 shares of the technology company’s stock after selling 4,721 shares during the period. Entropy Technologies LP’s holdings in Atlassian were worth $3,257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the period. Impax Asset Management Group plc increased its holdings in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Atlassian by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after buying an additional 3,687 shares during the period. International Assets Investment Management LLC bought a new position in Atlassian during the third quarter worth about $97,350,000. Finally, National Pension Service grew its position in shares of Atlassian by 8.4% during the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company’s stock worth $47,018,000 after buying an additional 22,883 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Price Performance

NASDAQ:TEAM opened at $245.85 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $64.03 billion, a price-to-earnings ratio of -161.74 and a beta of 0.71. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The firm’s 50-day simple moving average is $179.57 and its 200 day simple moving average is $172.26.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Raymond James lifted their target price on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $243.16.

Insider Buying and Selling at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 214,596 shares in the company, valued at $33,674,404.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 245,662 shares of company stock valued at $44,653,051. 38.55% of the stock is currently owned by corporate 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.