Rothschild Wealth LLC Takes $730,000 Position in Atlassian Corporation PLC $TEAM

Rothschild Wealth LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,504 shares of the technology company’s stock, valued at approximately $730,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in shares of Atlassian by 50.7% during the third quarter. SBI Securities Co. Ltd. now owns 40,546 shares of the technology company’s stock valued at $6,475,000 after buying an additional 13,643 shares in the last quarter. OFI Invest Asset Management grew its holdings in shares of Atlassian by 16.3% during the fourth quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock valued at $41,273,000 after buying an additional 35,682 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock valued at $1,367,132,000 after buying an additional 316,276 shares in the last quarter. Exane Asset Management grew its holdings in shares of Atlassian by 419.9% during the fourth quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock valued at $5,085,000 after buying an additional 25,330 shares in the last quarter. Finally, Nicholas Company Inc. grew its holdings in shares of Atlassian by 8.7% during the fourth quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock valued at $49,748,000 after buying an additional 24,490 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity

In related news, CFO James Chuong sold 8,838 shares of the business’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 owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at $20,782,797.75. This represents a 0.83% decrease in their position. 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 have sold a total of 10,891 shares of company stock valued at $955,683 in the last three months. 36.66% of the stock is owned by insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $115.95 on Tuesday. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The business has a 50-day moving average of $76.38 and a two-hundred day moving average of $107.54. The stock has a market capitalization of $29.42 billion, a P/E ratio of -139.70, a P/E/G ratio of 6.10 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Piper Sandler lowered their target price on Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. KeyCorp lowered their target price on Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. TD Cowen boosted their target price on Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Finally, Barclays boosted their target price on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Atlassian Company 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.