Atlassian Corporation PLC $TEAM Position Raised by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 1,516.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 905,629 shares of the technology company’s stock after acquiring an additional 849,613 shares during the period. SG Americas Securities LLC’s holdings in Atlassian were worth $61,809,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TEAM. NewEdge Advisors LLC boosted its stake in Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,267 shares during the period. Empowered Funds LLC increased its stake in shares of Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after purchasing an additional 1,328 shares during the period. Focus Partners Wealth increased its stake in shares of Atlassian by 32.6% in the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after purchasing an additional 1,014 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares in the company, valued at $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at $25,295,868. This represents a 2.97% 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. Over the last quarter, insiders have sold 20,041 shares of company stock worth $1,801,069. 36.66% of the stock is owned by insiders.

Atlassian Trading Down 3.3%

Atlassian stock opened at $79.96 on Tuesday. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $20.29 billion, a PE ratio of -96.34, a price-to-earnings-growth ratio of 4.69 and a beta of 1.07. The firm has a 50 day simple moving average of $83.80 and a 200-day simple moving average of $101.52.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TEAM shares. Truist Financial increased their price objective on Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Robert W. Baird set a $120.00 target price on Atlassian in a research note on Friday, May 1st. Piper Sandler reduced their price target on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Mizuho decreased their price target on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Finally, Wall Street Zen lowered Atlassian from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Company Profile

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.