Atlassian Co. (NASDAQ:TEAM) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 60.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,193 shares of the technology company’s stock after selling 87,210 shares during the quarter. Trexquant Investment LP’s holdings in Atlassian were worth $14,163,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 1,806,042 shares during the period. Norges Bank purchased a new position in shares of Atlassian in the 4th quarter valued at about $296,697,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlassian in the fourth quarter valued at about $234,547,000. Point72 Asset Management L.P. boosted its holdings in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Price Performance

Atlassian stock opened at $216.41 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $267.68 and a 200 day moving average price of $239.81. The company has a market cap of $56.70 billion, a price-to-earnings ratio of -161.50 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction 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 owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,981 shares of company stock worth $72,069,956 over the last three months. 38.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TEAM shares. Macquarie lifted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Canaccord Genuity Group upped 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. Oppenheimer raised their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $310.18.

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.