TD Waterhouse Canada Inc. Boosts Holdings in Atlassian Corporation PLC $TEAM

TD Waterhouse Canada Inc. boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 21,720.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,728 shares of the technology company’s stock after purchasing an additional 8,688 shares during the period. TD Waterhouse Canada Inc.’s holdings in Atlassian were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TEAM. Snowden Capital Advisors LLC boosted its stake in shares of Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares during the last quarter. New York Life Investment Management LLC raised its position in Atlassian by 6.7% during the fourth quarter. New York Life Investment Management LLC now owns 2,199 shares of the technology company’s stock valued at $357,000 after acquiring an additional 139 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in Atlassian by 5.6% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 2,696 shares of the technology company’s stock valued at $437,000 after acquiring an additional 143 shares during the period. Lido Advisors LLC lifted its holdings in Atlassian by 5.1% in the fourth quarter. Lido Advisors LLC now owns 3,070 shares of the technology company’s stock valued at $492,000 after acquiring an additional 149 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in Atlassian by 10.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,588 shares of the technology company’s stock worth $257,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $177.74 on Thursday. The company has a fifty day simple moving average of $132.08 and a 200-day simple moving average of $97.78. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of -935.47, a PEG ratio of 13.86 and a beta of 1.15. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $198.60.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, equities analysts anticipate that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Atlassian from $140.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein restated an “outperform” rating on shares of Atlassian in a research report on Monday, June 29th. Bank of America lifted their price objective on shares of Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a report on Monday, August 31st. KeyCorp upped their price objective on shares of Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $126.00 target price on shares of Atlassian in a research note on Monday, August 3rd. Twenty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.81.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 1,125 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Chuong sold 9,054 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This 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. Insiders have sold a total of 25,138 shares of company stock worth $4,021,003 in the last ninety days. Insiders own 36.66% of the company’s stock.

Atlassian Profile

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.