3,110 Shares in Atlassian Corporation PLC $TEAM Acquired by Seelaus Asset Management LLC

Seelaus Asset Management LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,110 shares of the technology company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TEAM. Pictet Asset Management Holding SA boosted its holdings in shares of Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares during the period. Carmignac Gestion increased its holdings in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the period. First Trust Advisors LP increased its holdings in Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after purchasing an additional 766,922 shares during the period. KBC Group NV raised its position in Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after purchasing an additional 1,359,624 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Atlassian by 1,516.7% during the 1st quarter. SG Americas Securities LLC now owns 905,629 shares of the technology company’s stock valued at $61,809,000 after purchasing an additional 849,613 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research reports. Barclays upped their target price on Atlassian from $172.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $200.00 price target on shares of Atlassian in a research note on Friday, August 7th. FBN Securities restated an “outperform” rating and set a $170.00 price target on shares of Atlassian in a research note on Monday, August 10th. Bank of America lifted their price objective on Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a report on Monday, August 31st. Finally, BTIG Research increased their target price on shares of Atlassian from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Twenty-five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.00.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 9,054 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares in the company, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the sale, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,475 shares of company stock worth $3,822,643 over the last quarter. Insiders own 36.66% of the company’s stock.

Atlassian Stock Down 1.5%

Shares of NASDAQ:TEAM traded down $3.07 on Wednesday, reaching $204.97. The company had a trading volume of 1,058,035 shares, compared to its average volume of 5,689,689. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $214.77. The firm’s 50 day simple moving average is $179.66 and its 200-day simple moving average is $117.47. The firm has a market capitalization of $52.02 billion, a PE ratio of -1,072.37, a PEG ratio of 16.33 and a beta of 1.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 20.99% and a negative net margin of 0.82%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, analysts expect that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Atlassian Profile

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.