Mesirow Financial Investment Management Inc. has a $291,000 stock position in Atlassian Co. (NASDAQ:TEAM)

VaselineSeptember 18, 2024

0 4 minutes read

Mesirow Financial Investment Management Inc. reduced its position in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,644 shares of the technology company’s stock after selling 165 shares during the quarter. Holdings of Mesirow Financial Investment Management Inc. holdings in Atlassian were worth $291,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TEAM. Hollencrest Capital Management boosted its stake in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the period. Asset Dedication LLC grew its position in Atlassian by 229.8% in 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 in the last quarter. Trust Co. of Vermont boosted its stake in Atlassian by 2,175.0% during the second quarter. Trust Co. Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $36,000. Finally, Edmond DE Rothschild Holding SA bought a new stake in shares of Atlassian in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 93.03% of the company’s shares.

Atlassian trading down 5.6%

Shares of TEAM stock opened at $155.82 on Wednesday. The stock’s 50-day moving average price is $162.94 and its 200-day moving average price is $176.05. The company has a quick ratio of 1.18, a current ratio of 1.18, and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a market cap of $40.56 billion, a price-to-earnings ratio of -247.33 and a beta of 0.73.

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Atlassian (NASDAQ:TEAM – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted ($0.21) earnings per share. Atlassian’s revenue grew 20.5% year over year. As a group, research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Analysts on Wall Street are forecasting an increase

TEAM has been the subject of several analyst reports. Oppenheimer decreased their price target on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and cut their price target for the company from $230.00 to $175.00 in a report on Friday, August 2nd. BMO Capital Markets cut their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research note on Friday, 2 August. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $217.69, according to MarketBeat.

Check out our latest report on Atlassian

Indoor activity

In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $156.59, for a total value of $1,244,577.32. Following the completion of the transaction, the chief executive officer now owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the sale, the chief executive officer now owns 47,688 shares of the company’s stock, valued at approximately $7,467,463.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,159 shares of company stock worth $40,255,831. Corporate insiders own 40.48% of the company’s shares.

About Atlassian

(Free Report)

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 the knowledge of all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and rapidly forming work for teams.