Merit Financial Group LLC Has $5.12 Million Holdings in Atlassian Corporation PLC $TEAM

Merit Financial Group LLC grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 339.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,565 shares of the technology company’s stock after buying an additional 24,388 shares during the quarter. Merit Financial Group LLC’s holdings in Atlassian were worth $5,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Funds Management LTD lifted its position in shares of Atlassian by 11.1% in the fourth quarter. Fisher Funds Management LTD now owns 334,011 shares of the technology company’s stock worth $54,440,000 after purchasing an additional 33,485 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Atlassian by 23.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,047 shares of the technology company’s stock worth $11,195,000 after purchasing an additional 13,085 shares in the last quarter. Slow Capital Inc. lifted its position in shares of Atlassian by 0.3% in the fourth quarter. Slow Capital Inc. now owns 33,486 shares of the technology company’s stock worth $5,429,000 after purchasing an additional 84 shares in the last quarter. Parcion Private Wealth LLC lifted its position in shares of Atlassian by 447.2% in the fourth quarter. Parcion Private Wealth LLC now owns 7,113 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 5,813 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Atlassian by 316.2% in the fourth quarter. CWM LLC now owns 184,026 shares of the technology company’s stock worth $29,838,000 after purchasing an additional 139,811 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $66.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $73.74 and its two-hundred day moving average price is $122.86. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $242.00. The firm has a market capitalization of $17.65 billion, a P/E ratio of -92.97 and a beta of 0.99.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Friday, February 6th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $119.15, for a total value of $913,284.75. Following the transaction, the chief executive officer directly owned 314,265 shares in the company, valued at approximately $37,444,674.75. This represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $116.40, for a total transaction of $892,206.00. Following the completion of the transaction, the director owned 298,935 shares in the company, valued at $34,796,034. This trade represents a 2.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 128,653 shares of company stock worth $15,085,924. Corporate insiders own 36.66% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of a number of research reports. Citigroup lowered shares of Atlassian from a “buy” rating to a “mixed” rating in a research report on Friday. Mizuho cut their price objective on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, March 23rd. Finally, BNP Paribas Exane initiated coverage on shares of Atlassian in a research report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.52.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.