Focus Partners Advisor Solutions LLC Grows Stock Position in Atlassian Corporation PLC $TEAM

Focus Partners Advisor Solutions LLC lifted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 233.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,041 shares of the technology company’s stock after buying an additional 21,024 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Atlassian were worth $4,871,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the period. Board of the Pension Protection Fund purchased a new position in Atlassian during the 4th quarter valued at about $32,000. Basepoint Wealth LLC purchased a new position in Atlassian during the 4th quarter valued at about $32,000. Bogart Wealth LLC increased its holdings in Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after purchasing an additional 94 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in Atlassian during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

Atlassian stock opened at $95.61 on Wednesday. The stock’s 50 day simple moving average is $80.16 and its two-hundred day simple moving average is $105.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $24.26 billion, a price-to-earnings ratio of -115.19, a PEG ratio of 5.55 and a beta of 1.07. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59.

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

Insider Buying and Selling

In other news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the sale, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at $25,295,868. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,454 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $95.35, for a total value of $138,638.90. Following the completion of the sale, the executive directly owned 233,936 shares in the company, valued at approximately $22,305,797.60. This represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 13,796 shares of company stock worth $1,236,563. Insiders own 36.66% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research analyst reports. Robert W. Baird set a $120.00 price target on Atlassian in a report on Friday, May 1st. Mizuho reduced their price target on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Oppenheimer boosted their price target on Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Morgan Stanley reduced their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Finally, UBS Group reduced their price target on Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

About Atlassian

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.