Atlassian Corporation PLC $TEAM Shares Acquired by Clearstead Advisors LLC

Clearstead Advisors LLC grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 1,250.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,589 shares of the technology company’s stock after purchasing an additional 6,101 shares during the quarter. Clearstead Advisors LLC’s holdings in Atlassian were worth $1,068,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Physician Wealth Advisors Inc. grew its position in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC lifted its stake in shares of Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after buying an additional 66 shares in the last quarter. Snowden Capital Advisors LLC lifted its stake in shares of Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares in the last quarter. Financial Perspectives Inc lifted its stake in shares of Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares in the last quarter. Finally, ABN Amro Investment Solutions lifted its stake in shares of Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of several research reports. UBS Group decreased their price target on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. TD Cowen raised their price target on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Canaccord Genuity Group decreased their price target on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Oppenheimer raised their price target on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.63.

Insider Transactions at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,986 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. The sale 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, CFO James Chuong sold 8,838 shares of the business’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 transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 10,891 shares of company stock worth $955,683 over the last ninety days. 36.66% of the stock is owned by insiders.

Atlassian Price Performance

Shares of TEAM stock opened at $89.07 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50-day moving average is $74.50 and its two-hundred day moving average is $108.65. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The company has a market capitalization of $22.60 billion, a PE ratio of -107.31, a price-to-earnings-growth ratio of 4.81 and a beta of 0.90.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping 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 the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. Atlassian’s quarterly revenue was up 31.7% compared to the same quarter last year. Analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

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.