Entropy Technologies LP Purchases Shares of 10,299 Atlassian Corporation PLC $TEAM

Entropy Technologies LP purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the fourth quarter, Holdings Channel reports. The firm purchased 10,299 shares of the technology company’s stock, valued at approximately $1,670,000.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in Atlassian by 447.2% during the first 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 in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Atlassian in the fourth quarter worth about $32,000. Basepoint Wealth LLC purchased a new position in shares of Atlassian in the fourth quarter worth about $32,000. Bogart Wealth LLC increased its holdings in shares of Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after buying an additional 94 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Atlassian in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Up 3.4%

NASDAQ TEAM opened at $91.55 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $23.23 billion, a PE ratio of -110.30, a PEG ratio of 5.02 and a beta of 1.07. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The business’s 50-day moving average is $81.92 and its 200 day moving average is $103.87.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group decreased their price objective on Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Piper Sandler decreased their price objective on Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Truist Financial lifted their price objective on Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Raymond James Financial set a $130.00 price objective on Atlassian in a report on Friday, May 1st. Finally, Barclays lifted their price objective on Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $145.63.

Insider Activity at Atlassian

In other Atlassian news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction that occurred 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 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction that occurred 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 directly owned 227,691 shares in the company, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 20,041 shares of company stock worth $1,801,069. 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.