Atlassian Corporation PLC $TEAM Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 378.9% in the 4th quarter, Holdings Channel reports. The firm owned 229,977 shares of the technology company’s stock after buying an additional 181,954 shares during the quarter. Cerity Partners LLC’s holdings in Atlassian were worth $37,288,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TEAM. Board of the Pension Protection Fund acquired a new stake in shares of Atlassian during the fourth quarter valued at about $32,000. Basepoint Wealth LLC acquired a new stake in shares of Atlassian during the fourth quarter valued at about $32,000. Bogart Wealth LLC grew its stake in shares of Atlassian by 76.4% during the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after acquiring an additional 94 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Atlassian during the fourth quarter valued at about $41,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,986 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 $174,271.50. Following the transaction, the executive owned 236,841 shares of the company’s stock, valued at $20,782,797.75. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 firm’s stock in a transaction dated Tuesday, May 19th. The stock was 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 in the company, valued at $25,295,868. This represents 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. Insiders sold 13,796 shares of company stock worth $1,236,563 in the last three months. 36.66% of the stock is currently owned by corporate insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $91.54 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm’s 50-day moving average price is $80.65 and its two-hundred day moving average price is $105.09. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The stock has a market capitalization of $23.23 billion, a P/E ratio of -110.29, a P/E/G ratio of 5.42 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company posted $0.97 earnings per share. Atlassian’s revenue was up 31.7% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Zacks Research upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Oppenheimer raised their target price on Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Truist Financial raised their target price on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Citigroup lowered their target price on Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, KeyCorp reduced their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

About Atlassian

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.