Entropy Technologies LP Sells 4,721 Shares of Atlassian Co. (NASDAQ:TEAM)

Entropy Technologies LP cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,511 shares of the technology company’s stock after selling 4,721 shares during the period. Entropy Technologies LP’s holdings in Atlassian were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Dedication LLC grew its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares during the period. Trust Co. of Vermont raised its holdings in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC bought a new position in shares of Atlassian during the 2nd quarter worth about $36,000. GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Atlassian in the first quarter worth approximately $40,000. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of several analyst reports. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company raised their price target on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Canaccord Genuity Group upped their price objective on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Oppenheimer lifted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92. Following the completion of the transaction, the director now directly owns 278,180 shares in the company, valued at approximately $65,939,787.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $237.04, for a total value of $1,883,993.92. Following the completion of the sale, the director now directly owns 278,180 shares in the company, valued at approximately $65,939,787.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 445 shares of Atlassian stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the transaction, the chief accounting officer now owns 58,723 shares in the company, valued at approximately $13,506,290. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 245,662 shares of company stock valued at $44,653,051 over the last 90 days. 38.55% of the stock is owned by insiders.

Atlassian Stock Up 3.4 %

TEAM opened at $245.85 on Tuesday. The firm has a market capitalization of $64.03 billion, a P/E ratio of -161.74 and a beta of 0.71. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a fifty day moving average price of $179.57 and a 200-day moving average price of $172.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. Equities research analysts expect that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

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.