Atlassian Co. (NASDAQ:TEAM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in Atlassian Co. (NASDAQ:TEAM) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,508,523 shares of the technology company’s stock after selling 12,200 shares during the quarter. Atlassian comprises 0.5% of Renaissance Technologies LLC’s holdings, making the stock its 20th biggest position. Renaissance Technologies LLC owned approximately 0.58% of Atlassian worth $367,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in shares of Atlassian during the fourth quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian in the fourth quarter worth about $39,000. Avion Wealth grew its position in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares during the period. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 0.6 %

Atlassian stock opened at $186.61 on Tuesday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company’s fifty day moving average price is $262.42 and its two-hundred day moving average price is $240.89. The company has a market capitalization of $48.89 billion, a price-to-earnings ratio of -139.26 and a beta of 1.07. 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 issued 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%. On average, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on TEAM shares. Truist Financial decreased their price objective on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a report on Monday, March 31st. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Barclays boosted their price target 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. Citigroup lifted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Canaccord Genuity Group increased their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $305.64.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Gene Liu sold 568 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was 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 of the company’s stock, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 270,981 shares of company stock valued at $71,384,361. Insiders own 38.55% of the company’s stock.

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.