Waddell & Associates LLC Purchases New Holdings in Atlassian Corporation PLC $TEAM

Waddell & Associates LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the fourth quarter, Holdings Channel reports. The firm purchased 8,127 shares of the technology company’s stock, valued at approximately $1,318,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Union Bankshares Corp increased its position in shares of Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $32,000. Basepoint Wealth LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $32,000. Bogart Wealth LLC increased its position 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 during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $41,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value 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 $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. 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 10,891 shares of company stock valued at $955,683 over the last ninety days. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $97.89 on Tuesday. 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 business has a fifty day simple moving average of $79.55 and a two-hundred day simple moving average of $105.82. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The company has a market capitalization of $24.84 billion, a P/E ratio of -117.94, a P/E/G ratio of 5.64 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released 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 positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BTIG Research increased their price target on Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays raised 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. BNP Paribas Exane began coverage on Atlassian in a research report on Monday, March 16th. They issued an “outperform” rating and a $95.00 target price for the company. Piper Sandler decreased their target price on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, Wolfe Research reissued an “outperform” rating and issued a $100.00 target price on shares of Atlassian in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

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.