Integrated Wealth Concepts LLC Has $1.71 Million Position in Atlassian Corporation PLC $TEAM

Integrated Wealth Concepts LLC lifted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 63.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,922 shares of the technology company’s stock after buying an additional 8,500 shares during the period. Integrated Wealth Concepts LLC’s holdings in Atlassian were worth $1,705,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Tensor Edge Capital LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $5,028,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Atlassian by 69.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,000 shares of the technology company’s stock valued at $4,232,000 after purchasing an additional 25,400 shares during the period. Fluent Financial LLC bought a new stake in shares of Atlassian during the second quarter valued at approximately $2,239,000. AMF Tjanstepension AB acquired a new position in shares of Atlassian in the fourth quarter valued at $4,669,000. Finally, National Pension Service lifted its position in Atlassian by 15.5% in the fourth quarter. National Pension Service now owns 280,720 shares of the technology company’s stock worth $45,516,000 after purchasing an additional 37,607 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 1.5%

Shares of NASDAQ:TEAM opened at $189.81 on Wednesday. The company’s fifty day moving average is $140.09 and its 200-day moving average is $100.97. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $198.60. The company has a market capitalization of $48.17 billion, a PE ratio of -999.00, a P/E/G ratio of 15.15 and a beta of 1.15.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Equities research analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Atlassian from $175.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Oppenheimer raised their price objective on shares of Atlassian from $110.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. BMO Capital Markets lifted their target price on shares of Atlassian from $95.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Robert W. Baird set a $200.00 target price on shares of Atlassian in a research note on Friday, August 7th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a report on Wednesday, July 1st. Twenty-five research 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.41.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 939 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $190.00, for a total value of $178,410.00. Following the transaction, the chief accounting officer directly owned 55,868 shares of the company’s stock, valued at $10,614,920. The trade was a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian Duffy sold 1,851 shares of the stock in a transaction that occurred 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 approximately $37,632,556.35. This trade represents a 0.84% decrease in their ownership of the stock. 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 ninety days, insiders have sold 22,138 shares of company stock valued at $3,751,873. 36.66% of the stock is currently owned by insiders.

Atlassian Company Profile

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.