Atlassian Corporation PLC $TEAM Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC reduced its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 4.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 333,712 shares of the technology company’s stock after selling 13,755 shares during the quarter. Atlassian comprises about 0.9% of GC Wealth Management RIA LLC’s portfolio, making the stock its 18th largest holding. GC Wealth Management RIA LLC’s holdings in Atlassian were worth $22,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new position in Atlassian during the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the period. Basepoint Wealth LLC acquired a new stake in shares of Atlassian during the fourth quarter worth $32,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at $32,000. Finally, Bogart Wealth LLC increased its position in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler lowered their price target on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. TD Cowen raised their price objective on Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Zacks Research lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Oppenheimer increased their price target on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Atlassian in a research report on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 20,041 shares of company stock worth $1,801,069. 36.66% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $80.15 on Friday. The company has a market capitalization of $20.34 billion, a PE ratio of -96.57, a price-to-earnings-growth ratio of 5.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company’s fifty day moving average price is $89.11 and its 200 day moving average price is $89.36. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $206.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’s revenue was up 31.7% compared to the same quarter last year. On average, research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

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.