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

Virtu Financial LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) 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.

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

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.