5,734 Shares in Atlassian Corporation PLC $TEAM Acquired by Dockside LLC

Dockside LLC purchased a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 5,734 shares of the technology company’s stock, valued at approximately $930,000.

A number of other large investors have also bought and sold shares of TEAM. Board of the Pension Protection Fund bought a new stake in Atlassian during the 4th quarter worth approximately $32,000. Basepoint Wealth LLC bought a new stake in Atlassian during the 4th quarter worth approximately $32,000. Bogart Wealth LLC grew its position in Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after acquiring an additional 94 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in Atlassian during the 4th quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Activity

In other Atlassian news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares of the company’s stock, valued at $20,426,159.61. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Chuong sold 8,838 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 value 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 represents a 2.97% 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. Insiders sold a total of 20,041 shares of company stock worth $1,801,069 in the last three months. Company insiders own 36.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEAM. Cantor Fitzgerald increased their price objective on Atlassian from $98.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Wolfe Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Atlassian in a research report on Thursday, March 12th. Zacks Research upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $295.00 price objective on shares of Atlassian in a research report on Friday, May 1st. Finally, Guggenheim set a $115.00 price objective on Atlassian in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.63.

Atlassian Stock Performance

Shares of Atlassian stock opened at $88.52 on Monday. The company has a market capitalization of $22.46 billion, a PE ratio of -106.65, a PEG ratio of 5.02 and a beta of 1.07. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The stock’s fifty day simple moving average is $81.45 and its 200 day simple moving average is $104.28.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.97 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

About Atlassian

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.