Caerus Investment Advisors LLC Sells 5,158 Shares of Atlassian Corporation PLC $TEAM

Caerus Investment Advisors LLC cut its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 48.6% in the first quarter, Holdings Channel.com reports. The firm owned 5,465 shares of the technology company’s stock after selling 5,158 shares during the quarter. Caerus Investment Advisors LLC’s holdings in Atlassian were worth $373,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Atlassian in the fourth quarter worth about $25,000. Western Wealth Management LLC bought a new position in shares of Atlassian during the first quarter valued at approximately $30,000. State of Wyoming grew its stake in shares of Atlassian by 65.7% during the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after buying an additional 178 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $32,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $32,000. 94.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares of the company’s stock, valued at $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,041 shares of company stock worth $1,801,069 in the last three months. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Up 2.9%

Shares of NASDAQ:TEAM opened at $101.01 on Friday. The business’s 50 day moving average is $90.49 and its 200 day moving average is $87.46. The stock has a market cap of $25.63 billion, a P/E ratio of -121.70, a price-to-earnings-growth ratio of 7.17 and a beta of 1.11. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $199.09. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $0.97 EPS. Atlassian’s revenue was up 31.7% on a year-over-year basis. Sell-side analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of recent analyst reports. Canaccord Genuity Group dropped their price objective on Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Citizens Jmp reiterated a “market perform” rating on shares of Atlassian in a research note on Wednesday, July 1st. UBS Group decreased their target price on Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Barclays boosted their target price on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Robert W. Baird set a $120.00 price target on shares of Atlassian in a report on Friday, May 1st. Twenty-one research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.50.

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.