Peregrine Capital Management LLC Has $7.82 Million Stock Position in Atlassian Corporation PLC $TEAM

Peregrine Capital Management LLC lessened its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,545 shares of the technology company’s stock after selling 8,153 shares during the quarter. Peregrine Capital Management LLC’s holdings in Atlassian were worth $7,818,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. MV Capital Management Inc. acquired a new stake in Atlassian in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its position 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 worth $42,000 after purchasing an additional 161 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Atlassian during the fourth quarter worth approximately $32,000. Basepoint Wealth LLC bought a new position in shares of Atlassian in the 4th quarter worth $32,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of Atlassian in the 4th quarter worth $32,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on TEAM shares. Guggenheim set a $115.00 price target on shares of Atlassian in a research note on Thursday, April 9th. Barclays raised their price objective on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. UBS Group decreased their target price on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Finally, Mizuho lowered their target price on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $145.26.

Atlassian Stock Performance

NASDAQ TEAM opened at $77.79 on Wednesday. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. 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 market cap of $19.74 billion, a price-to-earnings ratio of -93.72, a PEG ratio of 4.49 and a beta of 1.07. The company has a fifty day moving average price of $85.67 and a 200-day moving average price of $98.12.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating 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 company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $0.97 earnings per share. The firm’s revenue was up 31.7% on a year-over-year basis. As a group, equities research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, CFO James Chuong sold 8,838 shares of Atlassian 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 transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the transaction, the executive owned 227,691 shares in the company, valued at $20,426,159.61. The trade was a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 20,041 shares of company stock valued at $1,801,069. Company insiders own 36.66% of the company’s stock.

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.