Havemeyer Place LP Purchases Shares of 7,265 Atlassian Corporation PLC $TEAM

Havemeyer Place LP purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the 4th quarter, Holdings Channel reports. The fund purchased 7,265 shares of the technology company’s stock, valued at approximately $1,178,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Atlantic Union Bankshares Corp lifted its stake 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 buying an additional 199 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Atlassian during the fourth quarter valued at approximately $32,000. Basepoint Wealth LLC purchased a new position in shares of Atlassian during the fourth quarter valued at approximately $32,000. Bogart Wealth LLC lifted its stake 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 buying an additional 94 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Atlassian during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the company’s 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 completion of the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction 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 trade 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 10,891 shares of company stock valued at $955,683 in the last ninety days. 36.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEAM. BNP Paribas Exane began coverage on shares of Atlassian in a research note on Monday, March 16th. They set an “outperform” rating and a $95.00 price objective on the stock. Truist Financial upped their price objective on shares of Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wolfe Research reissued an “outperform” rating and set a $100.00 price objective on shares of Atlassian in a research note on Thursday, March 12th. Cantor Fitzgerald upped their price objective on shares of Atlassian from $98.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Barclays upped 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Atlassian Stock Performance

Shares of TEAM stock opened at $99.47 on Monday. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company has a 50 day moving average price of $78.95 and a 200 day moving average price of $106.17. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of -119.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Atlassian’s revenue for the quarter was up 31.7% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current year.

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.