Capital A Wealth Management LLC Has $165,000 Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Capital A Wealth Management LLC lessened its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 25.8% during the first quarter, Holdings Channel reports. The fund owned 776 shares of the technology company’s stock after selling 270 shares during the period. Capital A Wealth Management LLC’s holdings in Atlassian were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Clean Yield Group raised its position in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the 4th quarter worth about $27,000. Colonial Trust Co SC grew its stake in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new position in Atlassian in the 4th quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEAM. Barclays reduced their price objective on Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, May 5th. BMO Capital Markets reduced their price target on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Baird R W raised Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. UBS Group reiterated a “hold” rating on shares of Atlassian in a research report on Monday, July 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $285.75.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total transaction of $1,643,646.40. Following the sale, the director directly owned 174,856 shares of the company’s stock, valued at approximately $36,160,220.80. The trade was a 4.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $222.47, for a total transaction of $1,768,191.56. Following the transaction, the chief executive officer owned 143,064 shares of the company’s stock, valued at approximately $31,827,448.08. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 432,395 shares of company stock worth $90,260,299. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $187.69 on Wednesday. The firm’s 50 day simple moving average is $207.24 and its 200 day simple moving average is $232.97. The firm has a market capitalization of $49.27 billion, a price-to-earnings ratio of -113.07 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.