Trek Financial LLC Acquires 20,901 Shares of Atlassian Corporation PLC $TEAM

Trek Financial LLC bought a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 20,901 shares of the technology company’s stock, valued at approximately $3,747,000.

Other large investors have also bought and sold shares of the company. Fortitude Family Office LLC grew 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 acquiring an additional 54 shares during the period. Activest Wealth Management lifted its holdings in 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 acquiring an additional 108 shares during the last quarter. Greenleaf Trust lifted its holdings in Atlassian by 3.7% in the 3rd quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock valued at $578,000 after acquiring an additional 114 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in Atlassian by 3.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,228 shares of the technology company’s stock valued at $579,000 after acquiring an additional 115 shares during the last quarter. Finally, Strengthening Families & Communities LLC boosted its position in shares of Atlassian by 2.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 5,759 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 1,125 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. The trade was a 3.14% 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 quarter, insiders have sold 22,475 shares of company stock valued at $3,822,643. 37.63% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $187.08 on Tuesday. The stock’s fifty day simple moving average is $195.53 and its 200 day simple moving average is $118.47. The stock has a market capitalization of $47.36 billion, a price-to-earnings ratio of -984.63, a PEG ratio of 23.47 and a beta of 1.22. 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 $229.96.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Atlassian’s revenue was up 27.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TEAM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Thursday, October 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $225.00 target price on shares of Atlassian in a report on Friday. Wells Fargo & Company increased their target price on shares of Atlassian from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Barclays increased their target price on shares of Atlassian from $172.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, October 13th. Finally, UBS Group set a $280.00 target price on shares of Atlassian in a report on Monday, October 19th. Twenty-three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.36.

Atlassian Company Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

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