Focus Partners Advisor Solutions LLC boosted its position in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 233.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,041 shares of the technology company’s stock after buying an additional 21,024 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Atlassian were worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after buying an additional 66 shares during the last quarter. Snowden Capital Advisors LLC increased its position in Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares during the last quarter. Financial Perspectives Inc increased its position in Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares during the last quarter. ABN Amro Investment Solutions increased its position in Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after buying an additional 80 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in Atlassian by 20.5% in the third quarter. Clearstead Advisors LLC now owns 488 shares of the technology company’s stock worth $78,000 after buying an additional 83 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on TEAM. KeyCorp decreased their target price on Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Canaccord Genuity Group cut their price target on Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. BNP Paribas Exane initiated coverage on Atlassian in a report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.63.
Atlassian Trading Down 2.3%
NASDAQ TEAM opened at $95.61 on Wednesday. The stock’s 50-day simple moving average is $80.16 and its two-hundred day simple moving average is $105.46. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $24.26 billion, a price-to-earnings ratio of -115.19, a PEG ratio of 5.55 and a beta of 1.07.
Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. Research analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.
Insider Transactions at Atlassian
In other news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,454 shares of Atlassian stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $95.35, for a total value of $138,638.90. Following the completion of the transaction, the executive owned 233,936 shares in the company, valued at approximately $22,305,797.60. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,796 shares of company stock worth $1,236,563 in the last 90 days. Company insiders own 36.66% of the company’s stock.
Atlassian 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.
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