9,411 Shares in Atlassian Corporation PLC $TEAM Bought by Wick Capital Partners LLC

Wick Capital Partners LLC bought a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 9,411 shares of the technology company’s stock, valued at approximately $1,526,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in Atlassian by 71.6% in the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 2,267 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after acquiring an additional 1,328 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,014 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Atlassian by 27.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Performance

NASDAQ TEAM opened at $82.72 on Friday. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of -99.66, a PEG ratio of 4.78 and a beta of 1.07. The stock has a 50-day moving average of $83.00 and a 200 day moving average of $102.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEAM. KeyCorp lowered their target price on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Sanford C. Bernstein restated an “outperform” rating and set a $295.00 price target on shares of Atlassian in a research note on Friday, May 1st. Piper Sandler decreased their price target on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Wall Street Zen downgraded shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Mizuho dropped their price objective on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Insider Activity at Atlassian

In other Atlassian news, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the transaction, the executive directly owned 227,691 shares in the company, valued at $20,426,159.61. The trade was a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 20,041 shares of company stock worth $1,801,069. Insiders own 36.66% of the company’s stock.

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.