2,570 Shares of Atlassian Corporation PLC $TEAM Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,570 shares of the technology company’s stock, valued at approximately $461,000.

Other large investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Atlassian by 69.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,000 shares of the technology company’s stock worth $4,232,000 after purchasing an additional 25,400 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Atlassian by 6.5% in the 2nd quarter. Arizona State Retirement System now owns 48,629 shares of the technology company’s stock valued at $3,783,000 after purchasing an additional 2,969 shares during the period. Fluent Financial LLC bought a new stake in shares of Atlassian in the second quarter valued at about $2,239,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Atlassian in the second quarter valued at about $11,584,000. Finally, IFP Advisors Inc lifted its holdings in shares of Atlassian by 76.0% in the second quarter. IFP Advisors Inc now owns 9,428 shares of the technology company’s stock valued at $733,000 after purchasing an additional 4,071 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, CAO Gene Liu sold 1,125 shares of the 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 completion of the transaction, the chief accounting officer owned 56,807 shares of the company’s stock, valued at $9,941,225. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Chuong sold 9,054 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the sale, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. This represents a 3.14% 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. Insiders sold a total of 22,475 shares of company stock worth $3,822,643 in the last three months. 37.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TEAM. Bank of America boosted their target price on Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Truist Financial lifted their price target on shares of Atlassian from $185.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Mizuho boosted their price target on shares of Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Finally, UBS Group set a $280.00 price objective on shares of Atlassian in a research note on Monday, October 19th. Twenty-four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.35.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $219.41 on Wednesday. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $229.96. The stock has a 50-day moving average price of $193.15 and a two-hundred day moving average price of $117.35.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. Equities analysts forecast that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Atlassian Company 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.