Trek Financial LLC Buys 20,901 Shares of Atlassian Corporation PLC $TEAM

Trek Financial LLC bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,901 shares of the technology company’s stock, valued at approximately $3,747,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TEAM. Greenleaf Trust lifted its position in Atlassian by 3.7% in the 3rd quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock valued at $578,000 after purchasing an additional 114 shares during the last quarter. Austin Asset Management Co Inc bought a new position in Atlassian in the 3rd quarter worth about $201,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Atlassian in the 3rd quarter worth about $12,655,000. Vise Technologies Inc. bought a new position in Atlassian in the 3rd quarter worth about $2,916,000. Finally, Americana Partners LLC acquired a new stake in shares of Atlassian in the third quarter valued at approximately $403,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. TD Cowen reiterated a “hold” rating on shares of Atlassian in a research report on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 price objective on shares of Atlassian in a report on Friday, August 7th. Finally, UBS Group set a $280.00 target price on Atlassian in a research report on Monday, October 19th. Twenty-three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $216.36.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $187.08 on Tuesday. The stock has a market cap of $47.36 billion, a P/E ratio of -984.63, a P/E/G ratio of 23.47 and a beta of 1.22. The firm’s 50-day simple moving average is $195.53 and its 200 day simple moving average is $118.47. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $229.96. 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 (NASDAQ:TEAM) last announced its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. Atlassian’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Equities analysts expect that Atlassian Corporation PLC will post 0.69 EPS for the current year.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 337 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $210.00, for a total transaction of $70,770.00. Following the transaction, the chief accounting officer owned 55,531 shares in the company, valued at $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Chuong sold 9,054 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. This represents a 3.14% 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. In the last three months, insiders sold 22,475 shares of company stock valued at $3,822,643. Company insiders own 37.63% of the company’s stock.

Atlassian Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

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