SeaCrest Wealth Management LLC Buys Shares of 286 Atlassian Co. Plc (NASDAQ:TEAM)

SeaCrest Wealth Management LLC purchased a new position in Atlassian Co. Plc (NASDAQ:TEAMGet Rating) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 286 shares of the technology company’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Durable Capital Partners LP bought a new position in Atlassian during the first quarter valued at about $434,144,000. Brown Advisory Inc. lifted its position in shares of Atlassian by 70,015.4% in the 2nd quarter. Brown Advisory Inc. now owns 1,001,949 shares of the technology company’s stock valued at $187,765,000 after acquiring an additional 1,000,520 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Atlassian by 13.5% in the first quarter. Sands Capital Management LLC now owns 6,106,826 shares of the technology company’s stock worth $1,794,369,000 after buying an additional 725,599 shares during the period. Scge Management L.P. acquired a new stake in Atlassian during the 1st quarter worth about $137,219,000. Finally, 1832 Asset Management L.P. grew its stake in Atlassian by 96.9% during the 1st quarter. 1832 Asset Management L.P. now owns 900,000 shares of the technology company’s stock valued at $260,925,000 after acquiring an additional 442,800 shares in the last quarter. 87.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on TEAM shares. StockNews.com initiated coverage on shares of Atlassian in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Sanford C. Bernstein set a $263.00 price objective on Atlassian in a research report on Friday, August 12th. Wolfe Research raised their price target on Atlassian from $240.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Jefferies Financial Group lowered their price target on Atlassian from $260.00 to $220.00 and set a “hold” rating for the company in a research note on Monday, October 31st. Finally, Morgan Stanley cut their price objective on shares of Atlassian from $375.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, November 11th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $117.48, for a total value of $1,011,972.72. Following the sale, the chief executive officer now owns 318,718 shares of the company’s stock, valued at approximately $37,442,990.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CRO Cameron Deatsch sold 2,011 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $134.92, for a total transaction of $271,324.12. Following the completion of the transaction, the executive now owns 134,740 shares in the company, valued at approximately $18,179,120.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $117.48, for a total value of $1,011,972.72. Following the completion of the sale, the chief executive officer now directly owns 318,718 shares in the company, valued at approximately $37,442,990.64. The disclosure for this sale can be found here. Insiders sold a total of 158,874 shares of company stock valued at $28,834,699 over the last ninety days. 43.11% of the stock is owned by company insiders.

Atlassian Trading Down 2.4 %

Shares of NASDAQ:TEAM opened at $118.76 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50-day moving average is $196.02 and its 200-day moving average is $205.97. The company has a market cap of $30.35 billion, a P/E ratio of -133.44 and a beta of 0.91. Atlassian Co. Plc has a 52-week low of $114.11 and a 52-week high of $443.25.

Atlassian (NASDAQ:TEAMGet Rating) last released its earnings results on Thursday, November 3rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.46. The firm had revenue of $807.39 million for the quarter, compared to analyst estimates of $806.42 million. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The company’s revenue was up 31.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. Equities research analysts predict that Atlassian Co. Plc will post -0.9 earnings per share for the current year.

About Atlassian

(Get Rating)

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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