Knights of Columbus Asset Advisors LLC Purchases New Holdings in Atlassian Corporation PLC $TEAM

Knights of Columbus Asset Advisors LLC purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,149 shares of the technology company’s stock, valued at approximately $1,640,000.

Several other institutional investors have also recently made changes to their positions in the stock. Activest Wealth Management boosted its holdings in shares of Atlassian by 372.4% in the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after buying an additional 108 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Atlassian in the third quarter valued at $49,000. Fortitude Family Office LLC increased its holdings in Atlassian by 23.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after buying an additional 54 shares during the last quarter. Physician Wealth Advisors Inc. increased its holdings in Atlassian by 142.4% during the third quarter. Physician Wealth Advisors Inc. now owns 337 shares of the technology company’s stock worth $60,000 after buying an additional 198 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Atlassian during the second quarter worth $27,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEAM. Raymond James Financial set a $180.00 price target on shares of Atlassian in a research note on Friday, August 7th. Piper Sandler lifted their price objective on shares of Atlassian from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Mizuho boosted their price objective on shares of Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. KeyCorp upped their target price on shares of Atlassian from $185.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 target price (down from $250.00) on shares of Atlassian in a research note on Friday, November 6th. Twenty-four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $209.48.

Atlassian Stock Up 2.6%

TEAM stock opened at $152.44 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $38.59 billion, a PE ratio of 423.46, a PEG ratio of 15.40 and a beta of 1.16. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $229.96. The business’s 50 day simple moving average is $193.74 and its 200 day simple moving average is $119.94.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.26. Atlassian had a return on equity of 33.53% and a net margin of 1.28%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted $1.04 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, research analysts anticipate that Atlassian Corporation PLC will post 0.69 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the company’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 transaction, the chief financial officer directly owned 279,218 shares in the company, valued at $48,151,144.10. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the transaction, the chief accounting officer directly owned 56,807 shares in the company, valued at $9,941,225. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,738 shares of company stock worth $3,701,038 over the last ninety days. Insiders own 37.63% of the company’s stock.

Atlassian Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams. Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration. Atlassian also offers cloud-based products and tools for distributed teams.