6,544 Shares in Atlassian Corporation PLC $TEAM Bought by Stance Capital LLC

by · The Markets Daily

Stance Capital LLC bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,544 shares of the technology company’s stock, valued at approximately $1,329,000.

Other hedge funds also recently modified their holdings of the company. Capco Asset Management LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares in the last quarter. State of Wyoming boosted its holdings in shares of Atlassian by 20.3% in the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after buying an additional 47 shares during the period. Virtus Advisers LLC bought a new stake in shares of Atlassian during the second quarter worth $61,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Atlassian by 40.1% during the second quarter. First Horizon Advisors Inc. now owns 374 shares of the technology company’s stock worth $76,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Citigroup restated a “buy” rating on shares of Atlassian in a research note on Wednesday, October 22nd. Robert W. Baird set a $230.00 price target on shares of Atlassian in a research note on Friday, October 31st. Macquarie reduced their target price on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Truist Financial set a $210.00 target price on shares of Atlassian in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Check Out Our Latest Research Report on Atlassian

Atlassian Trading Down 0.7%

Atlassian stock opened at $162.04 on Friday. The stock has a 50-day simple moving average of $155.86 and a 200 day simple moving average of $175.53. The stock has a market capitalization of $42.63 billion, a P/E ratio of -228.22, a PEG ratio of 30.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. Analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 9,847 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $152.46, for a total value of $1,501,273.62. Following the transaction, the president directly owned 242,092 shares of the company’s stock, valued at $36,909,346.32. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $165.09, for a total transaction of $1,265,414.85. Following the sale, the director directly owned 22,995 shares of the company’s stock, valued at $3,796,244.55. The trade was a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 581,181 shares of company stock worth $91,738,233 over the last ninety days. Insiders own 36.66% of the company’s stock.

Atlassian Profile

(Free Report)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.

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