Metis Global Partners LLC Has $806,000 Position in Atlassian Co. (NASDAQ:TEAM)

Metis Global Partners LLC reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,387 shares of the technology company’s stock after selling 351 shares during the period. Metis Global Partners LLC’s holdings in Atlassian were worth $806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. OFI Invest Asset Management bought a new stake in Atlassian in the 3rd quarter valued at about $26,000. Carmel Capital Partners LLC raised its position in shares of Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Atlassian in the 4th quarter valued at $107,000. Finally, Operose Advisors LLC bought a new stake in Atlassian during the 3rd quarter valued at $99,000. 93.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the sale, the chief executive officer now owns 263,712 shares in the company, valued at $57,573,603.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,691 shares of company stock valued at $61,115,840. Company insiders own 40.48% of the company’s stock.

Atlassian Price Performance

TEAM opened at $179.85 on Friday. Atlassian Co. has a fifty-two week low of $132.32 and a fifty-two week high of $258.69. The firm has a 50-day moving average of $195.22 and a 200 day moving average of $205.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $46.81 billion, a P/E ratio of -285.48 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned ($0.40) earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. On average, research analysts expect that Atlassian Co. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TEAM. Oppenheimer dropped their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Canaccord Genuity Group decreased their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. TD Cowen lowered their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $223.22.

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.