Inceptionr LLC Acquires Shares of 18,494 Atlassian Corporation PLC $TEAM

Inceptionr LLC bought a new position in Atlassian Corporation PLC (NASDAQ:TEAM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,494 shares of the technology company’s stock, valued at approximately $1,262,000.

A number of other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in Atlassian in the 4th quarter worth about $25,000. State of Wyoming lifted its holdings in 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 purchasing an additional 178 shares during the last quarter. Basepoint Wealth LLC bought a new position in Atlassian during the fourth quarter worth about $32,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Atlassian in the fourth quarter worth about $32,000. Finally, Bogart Wealth LLC increased its stake in shares of Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Friday, July 17th. UBS Group reduced their price objective on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. TD Cowen boosted their target price on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 1st. Barclays increased their target price on Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Atlassian in a research report on Wednesday, July 1st. Twenty-one research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Atlassian Stock Performance

Atlassian stock opened at $80.15 on Friday. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $206.00. 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 firm has a market capitalization of $20.34 billion, a PE ratio of -96.57, a price-to-earnings-growth ratio of 5.97 and a beta of 1.11. The firm’s 50 day simple moving average is $89.11 and its 200 day simple moving average is $89.36.

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

Insiders Place Their Bets

In other Atlassian news, CRO Brian Duffy sold 3,000 shares of the company’s 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 transaction, the executive directly owned 227,691 shares in the company, valued at $20,426,159.61. This represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the firm’s 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 approximately $25,295,868. The trade was a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 20,041 shares of company stock worth $1,801,069 in the last quarter. 36.66% of the stock is currently owned by company insiders.

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.