Seelaus Asset Management LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,110 shares of the technology company’s stock, valued at approximately $558,000.
Other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Atlassian in the 4th quarter worth approximately $25,000. Reflection Asset Management bought a new position in shares of Atlassian during the 4th quarter valued at approximately $44,000. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian in the second quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Atlassian by 139.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock valued at $29,000 after purchasing an additional 220 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in shares of Atlassian in the first quarter valued at $30,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Atlassian from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. UBS Group increased their price objective on shares of Atlassian from $95.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Mizuho set a $215.00 target price on Atlassian in a report on Monday, September 14th. BMO Capital Markets boosted their target price on Atlassian from $95.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Oppenheimer increased their price target on Atlassian from $110.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $196.00.
Insider Buying and Selling
In other Atlassian news, CRO Brian Duffy sold 1,851 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the sale, the executive owned 218,223 shares in the company, valued at $37,632,556.35. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 337 shares of Atlassian stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the sale, the chief accounting officer owned 55,531 shares of the company’s stock, valued at approximately $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,475 shares of company stock valued at $3,822,643. Insiders own 36.66% of the company’s stock.
Atlassian Trading Down 1.5%
NASDAQ:TEAM traded down $3.07 during mid-day trading on Wednesday, hitting $204.97. 1,058,035 shares of the stock traded hands, compared to its average volume of 5,689,689. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $214.77. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of -1,072.37, a PEG ratio of 16.33 and a beta of 1.22. The firm’s 50 day moving average is $179.66 and its two-hundred day moving average is $117.47.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.
About Atlassian
Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.
Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.
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