Atlassian Corporation PLC $TEAM Stock Position Lessened by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 95.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 977 shares of the technology company’s stock after selling 19,137 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Atlassian were worth $207,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Clean Yield Group raised its stake in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Smithfield Trust Co grew its holdings in shares of Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after purchasing an additional 78 shares in the last quarter. GeoWealth Management LLC boosted its stake in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after buying an additional 38 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company’s stock valued at $52,000 after buying an additional 110 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Up 1.6%

TEAM stock opened at $167.00 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $43.84 billion, a P/E ratio of -168.69 and a beta of 0.96. The business has a 50-day moving average of $194.44 and a 200-day moving average of $221.84. Atlassian Corporation PLC has a fifty-two week low of $145.88 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. Atlassian’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEAM. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. BMO Capital Markets decreased their price target on Atlassian from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Canaccord Genuity Group decreased their price target on Atlassian from $255.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Capital One Financial lowered Atlassian from an “overweight” rating to an “equal weight” rating and set a $211.00 price target on the stock. in a research note on Wednesday, July 16th. Finally, Oppenheimer cut their price objective on Atlassian from $300.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, July 21st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.76.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the sale, the chief executive officer owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the sale, the director owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 510,700 shares of company stock valued at $100,415,703 over the last three months. Insiders own 38.55% of the company’s stock.

Atlassian Company Profile

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.