Optimist Retirement Group LLC Takes Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Optimist Retirement Group LLC purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,056 shares of the technology company’s stock, valued at approximately $224,000.

A number of other large investors have also made changes to their positions in TEAM. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the fourth quarter worth approximately $27,000. Clean Yield Group boosted 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 worth $25,000 after acquiring an additional 93 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $194.86 on Friday. The stock’s 50-day simple moving average is $206.33 and its 200 day simple moving average is $231.87. The firm has a market capitalization of $51.15 billion, a PE ratio of -117.39 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00.

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

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total transaction of $1,451,521.05. Following the completion of the sale, the director owned 406,245 shares in the company, valued at approximately $76,930,615.65. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $189.37, for a total value of $1,451,521.05. Following the completion of the sale, the chief executive officer directly owned 406,245 shares of the company’s stock, valued at $76,930,615.65. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 447,725 shares of company stock valued at $93,163,341 in the last three months. Insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEAM. Barclays lowered their target price on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Macquarie cut their price target on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group cut their price objective on Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Mizuho cut their price objective on Atlassian from $290.00 to $265.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Raymond James Financial restated an “outperform” rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $279.81.

Atlassian Company 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.