Caerus Investment Advisors LLC Has $1.72 Million Stock Position in Atlassian Corporation PLC $TEAM

Caerus Investment Advisors LLC raised its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 275.1% in the 4th quarter, HoldingsChannel reports. The fund owned 10,623 shares of the technology company’s stock after purchasing an additional 7,791 shares during the period. Atlassian makes up about 0.6% of Caerus Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Caerus Investment Advisors LLC’s holdings in Atlassian were worth $1,722,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $32,000. Basepoint Wealth LLC bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $32,000. Bogart Wealth LLC grew its stake in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after purchasing an additional 94 shares during the period. VSM Wealth Advisory LLC bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TEAM shares. Mizuho lowered their price objective on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Guggenheim set a $115.00 price objective on Atlassian in a research note on Thursday, April 9th. Morgan Stanley lowered their price objective on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Piper Sandler lowered their price objective on Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Finally, Canaccord Genuity Group lowered their price objective on Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. One 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Price Performance

Shares of TEAM stock opened at $89.20 on Friday. The stock’s fifty day moving average is $81.07 and its 200-day moving average is $104.69. 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 stock has a market capitalization of $22.64 billion, a PE ratio of -107.47, a PEG ratio of 5.19 and a beta of 1.07. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59.

Atlassian (NASDAQ:TEAM) last announced its 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. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities research analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,454 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $95.35, for a total value of $138,638.90. Following the sale, the executive owned 233,936 shares in the company, valued at $22,305,797.60. The trade was a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,796 shares of company stock worth $1,236,563 in the last 90 days. Company insiders own 36.66% of the company’s stock.

Atlassian 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.