Vise Technologies Inc. Buys New Position in Atlassian Corporation PLC $TEAM

Vise Technologies Inc. bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,262 shares of the technology company’s stock, valued at approximately $2,916,000.

Several other hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in shares of Atlassian by 6.5% in the 2nd quarter. Arizona State Retirement System now owns 48,629 shares of the technology company’s stock worth $3,783,000 after acquiring an additional 2,969 shares during the period. Choreo LLC increased its stake in shares of Atlassian by 90.5% during the third quarter. Choreo LLC now owns 7,888 shares of the technology company’s stock worth $1,414,000 after acquiring an additional 3,748 shares during the period. Fluent Financial LLC acquired a new position in shares of Atlassian during the second quarter worth about $2,239,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Atlassian during the second quarter worth about $11,584,000. Finally, IFP Advisors Inc raised its holdings in Atlassian by 76.0% during the second quarter. IFP Advisors Inc now owns 9,428 shares of the technology company’s stock worth $733,000 after purchasing an additional 4,071 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 337 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total transaction of $70,770.00. Following the completion of the transaction, the chief accounting officer owned 55,531 shares of the company’s stock, valued at approximately $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,475 shares of company stock worth $3,822,643 over the last ninety days. 37.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on TEAM. BTIG Research raised their price objective on shares of Atlassian from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. UBS Group set a $280.00 target price on Atlassian in a research report on Monday, October 19th. BMO Capital Markets reissued an “outperform” rating and set a $225.00 target price on shares of Atlassian in a research note on Friday, October 30th. KeyCorp raised their price target on Atlassian from $185.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Finally, FBN Securities restated an “outperform” rating and issued a $170.00 price target on shares of Atlassian in a research note on Monday, August 10th. Twenty-three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.76.

Atlassian Stock Performance

Shares of TEAM stock opened at $189.88 on Thursday. The stock has a fifty day moving average price of $196.39 and a 200 day moving average price of $119.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $48.07 billion, a PE ratio of -999.37, a P/E/G ratio of 20.37 and a beta of 1.16. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $229.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.66 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts forecast that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

About Atlassian

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.