NewEdge Advisors LLC Has $306,000 Stock Holdings in Atlassian Corporation PLC $TEAM

NewEdge Advisors LLC decreased its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 49.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,487 shares of the technology company’s stock after selling 4,330 shares during the quarter. NewEdge Advisors LLC’s holdings in Atlassian were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEAM. Empowered Funds LLC grew its stake in shares of Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after buying an additional 1,328 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Atlassian by 27.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after acquiring an additional 404 shares during the last quarter. Finally, AXA S.A. boosted its holdings in shares of Atlassian by 24.4% during the 2nd quarter. AXA S.A. now owns 17,787 shares of the technology company’s stock valued at $3,612,000 after acquiring an additional 3,486 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of a number of research reports. Guggenheim boosted their price objective on Atlassian from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wall Street Zen downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. TD Cowen lifted their price target on Atlassian from $105.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Citigroup boosted their price target on Atlassian from $110.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, FBN Securities reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Atlassian in a research note on Monday, August 10th. Twenty-four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.23.

Atlassian Stock Down 0.3%

Atlassian stock opened at $171.33 on Tuesday. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of -901.74, a PEG ratio of 13.50 and a beta of 1.05. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $184.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a 50 day moving average price of $107.44 and a two-hundred day moving average price of $89.78.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. Equities analysts predict that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 7,617 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the transaction, the executive owned 220,074 shares in the company, valued at $35,872,062. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 30,349 shares of company stock worth $4,418,849 over the last quarter. Company insiders own 36.66% of the company’s stock.

Atlassian 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.