Semanteon Capital Management LP Invests $1.41 Million in Atlassian Co. (NASDAQ:TEAM)

Semanteon Capital Management LP acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,810 shares of the technology company’s stock, valued at approximately $1,414,000.

A number of other large investors also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Atlassian by 164.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the technology company’s stock worth $142,000 after buying an additional 364 shares during the last quarter. Whittier Trust Co. lifted its stake in Atlassian by 2,810.2% in the 4th quarter. Whittier Trust Co. now owns 1,426 shares of the technology company’s stock valued at $347,000 after purchasing an additional 1,377 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its stake in Atlassian by 12.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,450 shares of the technology company’s stock valued at $352,000 after purchasing an additional 157 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Atlassian by 85.1% in the 4th quarter. iA Global Asset Management Inc. now owns 40,999 shares of the technology company’s stock valued at $9,978,000 after purchasing an additional 18,853 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Atlassian in the 4th quarter valued at about $5,583,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00. Following the transaction, the chief executive officer now owns 31,792 shares in the company, valued at approximately $8,114,908. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of Atlassian stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,085 shares of company stock worth $69,211,537. Company insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stephens assumed coverage on shares of Atlassian in a research note on Wednesday. They issued an “equal weight” rating and a $255.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Finally, Barclays increased their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Stock Performance

Shares of Atlassian stock opened at $226.16 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $59.25 billion, a P/E ratio of -168.77 and a beta of 0.91. The company’s 50 day moving average price is $271.54 and its two-hundred day moving average price is $235.36.

Atlassian (NASDAQ:TEAM) last issued its earnings results 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, equities analysts forecast that Atlassian Co. will post -0.34 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.