Waddell & Associates LLC Purchases Shares of 8,127 Atlassian Corporation PLC $TEAM

Waddell & Associates LLC purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,127 shares of the technology company’s stock, valued at approximately $1,318,000.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Atlassian during the 4th quarter valued at about $32,000. Basepoint Wealth LLC bought a new stake in shares of Atlassian during the 4th quarter valued at about $32,000. Finally, Bogart Wealth LLC boosted its position in shares of 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 in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In other news, CFO James Chuong sold 8,838 shares of the firm’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 transaction, the chief financial officer owned 288,272 shares in the company, valued at $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 Securities & Exchange Commission, which is available 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 that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the transaction, the executive owned 236,841 shares in the company, valued at $20,782,797.75. This represents a 0.83% 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. Insiders sold 10,891 shares of company stock worth $955,683 in the last 90 days. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Down 1.6%

TEAM stock opened at $97.89 on Tuesday. The stock’s 50 day simple moving average is $79.55 and its 200 day simple moving average is $105.82. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. 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 company has a market cap of $24.84 billion, a P/E ratio of -117.94, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.70 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, research analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TEAM shares. KeyCorp cut their target price on Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Zacks Research upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. UBS Group cut their target price on Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. BNP Paribas Exane started coverage on Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 target price on the stock. Finally, Barclays upped their target price on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target 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.