Vise Technologies Inc. purchased a new position in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) during the third quarter, HoldingsChannel reports. The institutional investor purchased 16,262 shares of the technology company’s stock, valued at approximately $2,916,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Activest Wealth Management increased its stake in shares of Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after acquiring an additional 108 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Atlassian in the third quarter valued at approximately $49,000. Fortitude Family Office LLC increased its holdings in shares of Atlassian by 23.0% during the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after buying an additional 54 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in shares of Atlassian by 142.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 337 shares of the technology company’s stock worth $60,000 after buying an additional 198 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Atlassian during the second quarter valued at about $27,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Atlassian Trading Down 0.6%
TEAM opened at $189.88 on Thursday. The firm’s 50 day moving average is $196.39 and its 200-day moving average is $119.07. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $229.96. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $48.07 billion, a P/E ratio of -999.37, a P/E/G ratio of 20.37 and a beta of 1.16.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.37. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Analysts expect that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.
Insider Buying and Selling at Atlassian
In other news, CRO Brian Duffy sold 7,617 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the sale, the executive directly owned 220,074 shares in the company, valued at $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of Atlassian stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total value of $196,875.00. Following the sale, the chief accounting officer directly owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,475 shares of company stock valued at $3,822,643 in the last ninety days. Insiders own 37.63% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on TEAM shares. BTIG Research lifted their price objective on Atlassian from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Cantor Fitzgerald increased their target price on shares of Atlassian from $220.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. Finally, Morgan Stanley boosted their price objective on shares of Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.76.
Read Our Latest Stock Analysis on TEAM
About Atlassian
Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.
Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.
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