Atlassian Co. (NASDAQ:TEAM) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its position in shares of Atlassian Co. (NASDAQ:TEAM) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,787 shares of the technology company’s stock after selling 6,562 shares during the period. Atlassian accounts for approximately 1.0% of Peregrine Capital Management LLC’s portfolio, making the stock its 24th largest position. Peregrine Capital Management LLC owned 0.05% of Atlassian worth $33,291,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Point72 Asset Management L.P. increased its position in shares of 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 purchasing an additional 617,566 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of 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 last quarter. Westfield Capital Management Co. LP acquired a new position in Atlassian in the 3rd quarter valued at about $57,149,000. Parnassus Investments LLC raised its stake in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in Atlassian during the 3rd quarter worth approximately $30,566,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the transaction, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at $99,788,491.16. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,778 shares of company stock valued at $74,139,055. 38.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Robert W. Baird upped their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Macquarie lifted their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Stock Performance

Atlassian stock opened at $313.10 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a fifty day moving average of $270.89 and a two-hundred day moving average of $219.37.

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

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.