Western Financial Corp CA Acquires 3,336 Shares of Atlassian Corporation PLC $TEAM

Western Financial Corp CA bought a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,336 shares of the technology company’s stock, valued at approximately $598,000.

Several other large investors also recently modified their holdings of TEAM. MV Capital Management Inc. bought a new stake in Atlassian during the fourth quarter worth about $25,000. Manning & Napier Advisors LLC acquired a new stake in Atlassian during the second quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its stake 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 buying an additional 220 shares in the last quarter. Western Wealth Management LLC bought a new position in Atlassian in the 1st quarter valued at about $30,000. Finally, State of Wyoming increased its holdings in Atlassian by 65.7% in the 1st 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 period. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM traded down $3.38 during mid-day trading on Wednesday, reaching $204.66. The company had a trading volume of 2,080,641 shares, compared to its average volume of 5,695,420. The company has a market capitalization of $51.94 billion, a price-to-earnings ratio of -1,077.16, a P/E/G ratio of 16.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The company’s 50 day simple moving average is $179.66 and its 200 day simple moving average is $117.47. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $214.77.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. Analysts expect that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Atlassian from $170.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Mizuho set a $215.00 target price on Atlassian in a report on Monday, September 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Atlassian in a research note on Monday, June 29th. Truist Financial boosted their price target on Atlassian from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Raymond James Financial set a $180.00 price target on Atlassian in a report on Friday, August 7th. Twenty-five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $196.00.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 337 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the transaction, the chief accounting officer directly owned 55,531 shares in the company, valued at approximately $11,661,510. This represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Over the last quarter, insiders have sold 22,475 shares of company stock valued at $3,822,643. 36.66% of the stock is currently owned by insiders.

Atlassian Company Profile

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.