Virtu Financial LLC Takes Position in Atlassian Co. (NASDAQ:TEAM)

Virtu Financial LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAMFree Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,235 shares of the technology company’s stock, valued at approximately $631,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rokos Capital Management LLP grew its holdings in Atlassian by 523.5% during the first quarter. Rokos Capital Management LLP now owns 182,885 shares of the technology company’s stock worth $35,683,000 after acquiring an additional 153,553 shares during the period. iA Global Asset Management Inc. grew its holdings in Atlassian by 4.6% during the first quarter. iA Global Asset Management Inc. now owns 18,414 shares of the technology company’s stock worth $3,593,000 after acquiring an additional 811 shares during the period. SkyView Investment Advisors LLC grew its holdings in Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares during the period. Tidal Investments LLC grew its holdings in Atlassian by 10.0% during the first quarter. Tidal Investments LLC now owns 4,085 shares of the technology company’s stock worth $797,000 after acquiring an additional 373 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Atlassian by 72.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,998 shares of the technology company’s stock worth $604,000 after acquiring an additional 1,257 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the topic of a number of recent analyst reports. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research report on Thursday, July 11th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Morgan Stanley decreased their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Citigroup decreased their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Finally, Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $175.00 in a research report on Friday. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $219.25.

View Our Latest Analysis on TEAM

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36. Following the transaction, the chief executive officer now owns 333,816 shares in the company, valued at $59,108,799.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36. Following the completion of the transaction, the chief executive officer now owns 333,816 shares of the company’s stock, valued at approximately $59,108,799.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the sale, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,285 shares of company stock worth $47,692,054. 40.48% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $29.56 during trading hours on Friday, hitting $143.68. The stock had a trading volume of 8,353,681 shares, compared to its average volume of 1,745,777. The stock’s fifty day simple moving average is $170.10 and its 200 day simple moving average is $192.42. Atlassian Co. has a 1-year low of $141.21 and a 1-year high of $258.69. The firm has a market capitalization of $37.40 billion, a price-to-earnings ratio of -233.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

About Atlassian

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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