AQR Capital Management LLC Trims Position in Atlassian Co. (NASDAQ:TEAM)

AQR Capital Management LLC reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 698,385 shares of the technology company’s stock after selling 46,592 shares during the period. AQR Capital Management LLC owned approximately 0.27% of Atlassian worth $169,973,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new position in Atlassian in the 4th quarter valued at approximately $687,486,000. Voya Investment Management LLC boosted its position in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock worth $528,693,000 after purchasing an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. boosted its position in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Finally, Norges Bank purchased a new stake in Atlassian during the fourth quarter worth $296,697,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. KeyCorp decreased their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Macquarie upgraded Atlassian from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $317.00 to $270.00 in a research report on Thursday, April 10th. BMO Capital Markets reduced their price objective on Atlassian from $360.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Finally, Robert W. Baird upgraded Atlassian from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.90.

Atlassian Price Performance

TEAM stock opened at $229.83 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a market cap of $60.22 billion, a P/E ratio of -171.51 and a beta of 1.07. The stock has a 50-day simple moving average of $227.77 and a 200-day simple moving average of $244.92.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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 predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 779 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $229.11, for a total transaction of $1,820,966.28. Following the transaction, the director now owns 230,492 shares of the company’s stock, valued at $52,808,022.12. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 261,513 shares of company stock worth $65,866,506. Insiders own 38.55% of the company’s stock.

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.