4,345 Atlassian Corporation PLC $TEAM Shares Bought by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 7.9% during the third quarter, HoldingsChannel reports. The firm owned 59,407 shares of the technology company’s stock after buying an additional 4,345 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Atlassian were worth $10,651,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in shares of Atlassian by 372.4% in the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after buying an additional 108 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian during the second quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its position in Atlassian by 139.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock valued at $29,000 after acquiring an additional 220 shares during the period. Western Wealth Management LLC acquired a new position in Atlassian in the 1st quarter valued at about $30,000. Finally, State of Wyoming raised its stake in Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after acquiring an additional 178 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent research reports. Citigroup increased their price objective on Atlassian from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. BTIG Research boosted their target price on Atlassian from $230.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Wells Fargo & Company boosted their target price on Atlassian from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Jefferies Financial Group restated a “buy” rating and set a $200.00 price target on shares of Atlassian in a research note on Friday, August 7th. Finally, Truist Financial increased their price target on Atlassian from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Twenty-three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $216.36.

Insider Buying and Selling

In other Atlassian news, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the transaction, the chief accounting officer owned 56,807 shares of the company’s stock, valued at approximately $9,941,225. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,475 shares of company stock valued at $3,822,643. 37.63% of the stock is owned by insiders.

Atlassian Stock Down 2.4%

Shares of NASDAQ TEAM opened at $187.08 on Tuesday. The stock has a market capitalization of $47.36 billion, a price-to-earnings ratio of -984.63, a price-to-earnings-growth ratio of 23.47 and a beta of 1.22. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $229.96. The firm has a 50-day moving average price of $195.53 and a 200 day moving average price of $118.47. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate 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 business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. Equities research analysts anticipate that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

Atlassian Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.