5,939 Atlassian Corporation PLC $TEAM Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 82.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,257 shares of the technology company’s stock after selling 5,939 shares during the quarter. Sigma Planning Corp’s holdings in Atlassian were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TEAM. Activest Wealth Management grew its stake in Atlassian by 372.4% in the 3rd 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 bought a new position in Atlassian in the 2nd quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in Atlassian by 139.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after acquiring an additional 220 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Atlassian during the first quarter worth approximately $30,000. Finally, State of Wyoming lifted its position in Atlassian by 65.7% during the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TEAM shares. TD Cowen boosted their price objective on Atlassian from $105.00 to $145.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Royal Bank Of Canada increased their target price on Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, October 12th. FBN Securities reissued an “outperform” rating and set a $170.00 price target on shares of Atlassian in a report on Monday, August 10th. BTIG Research boosted their price target on Atlassian from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Finally, Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Twenty-three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $216.36.

Atlassian Stock Down 2.4%

NASDAQ TEAM opened at $187.08 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The company has a market cap of $47.36 billion, a price-to-earnings ratio of -984.63, a PEG ratio of 23.47 and a beta of 1.22. The company has a 50 day moving average of $195.53 and a 200-day moving average of $118.47. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $229.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts expect that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James Chuong sold 9,054 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 22,475 shares of company stock worth $3,822,643. Insiders own 37.63% of the company’s stock.

About Atlassian

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.