TD Private Client Wealth LLC Sells 8,093 Shares of Atlassian Corporation PLC $TEAM

TD Private Client Wealth LLC lowered its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 96.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 288 shares of the technology company’s stock after selling 8,093 shares during the period. TD Private Client Wealth LLC’s holdings in Atlassian were worth $47,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TEAM. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Board of the Pension Protection Fund bought a new stake in Atlassian in the 4th quarter valued at about $32,000. Bogart Wealth LLC boosted its holdings in Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after purchasing an additional 94 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several analyst reports. Canaccord Genuity Group reduced their price target on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Oppenheimer increased their price target on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Morgan Stanley reduced their price target on shares of Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Robert W. Baird set a $120.00 price target on shares of Atlassian in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $85.42 on Friday. The company has a market cap of $21.68 billion, a price-to-earnings ratio of -102.92, a PEG ratio of 4.84 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $73.81 and a 200 day simple moving average of $110.68. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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 business 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 firm’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 EPS. Research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 1,986 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the transaction, the executive owned 236,841 shares of the company’s stock, valued at $20,782,797.75. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 10,891 shares of company stock valued at $955,683. 36.66% of the stock is owned by insiders.

Atlassian 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.