Peregrine Capital Management LLC Sells 8,153 Shares of Atlassian Corporation PLC $TEAM

Peregrine Capital Management LLC lowered its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,545 shares of the technology company’s stock after selling 8,153 shares during the quarter. Peregrine Capital Management LLC’s holdings in Atlassian were worth $7,818,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Atlassian in the 4th quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new stake in shares of Atlassian during the fourth quarter worth $32,000. Basepoint Wealth LLC acquired a new position in shares of Atlassian during the fourth quarter worth $32,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Atlassian in the 4th quarter valued at $32,000. Finally, Bogart Wealth LLC boosted its holdings 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 acquiring an additional 94 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on TEAM shares. Piper Sandler dropped their target price 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 lowered their price objective on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Oppenheimer lifted their target price on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial set a $130.00 target price on shares of Atlassian in a report on Friday, May 1st. Finally, Citigroup decreased their price target on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.26.

Atlassian Stock Down 1.9%

Shares of NASDAQ TEAM opened at $77.79 on Wednesday. The company has a market capitalization of $19.74 billion, a P/E ratio of -93.72, a price-to-earnings-growth ratio of 4.49 and a beta of 1.07. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-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’s 50 day moving average price is $85.67 and its 200-day moving average price is $98.12.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company’s quarterly revenue was up 31.7% on a year-over-year basis. Equities analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Insider Transactions at Atlassian

In related news, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, 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. The disclosure for this sale is available in the SEC filing. 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 valued at $1,801,069. Company 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.