TD Private Client Wealth LLC Sells 8,093 Shares of Atlassian Corporation PLC $TEAM

TD Private Client Wealth LLC lowered its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 96.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 288 shares of the technology company’s stock after selling 8,093 shares during the period. TD Private Client Wealth LLC’s holdings in Atlassian were worth $47,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Physician Wealth Advisors Inc. raised its stake in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Atlassian by 12.0% during the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after acquiring an additional 66 shares during the last quarter. Snowden Capital Advisors LLC raised its stake in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after acquiring an additional 71 shares during the last quarter. Financial Perspectives Inc raised its stake in shares of Atlassian by 11.7% during the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after acquiring an additional 75 shares during the last quarter. Finally, ABN Amro Investment Solutions raised its stake in shares of Atlassian by 3.4% during the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 3.9%

TEAM opened at $85.42 on Friday. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average of $73.81 and a 200-day moving average of $110.68. The stock has a market cap of $21.68 billion, a PE ratio of -102.92, a price-to-earnings-growth ratio of 4.84 and a beta of 0.90.

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, topping the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company posted $0.97 earnings per share. Atlassian’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEAM. Citigroup dropped their price target on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Truist Financial raised their price target on shares of Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. KeyCorp dropped their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. BTIG Research increased their price objective on shares of Atlassian from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Guggenheim set a $115.00 price objective on shares of Atlassian in a research report on Thursday, April 9th. One research 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.63.

Insiders Place Their Bets

In other Atlassian news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the sale, the executive owned 236,841 shares of the company’s stock, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. 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 sold 10,891 shares of company stock valued at $955,683 over the last 90 days. Corporate insiders own 36.66% of the company’s stock.

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.