Envestnet Asset Management Inc. Has $27.19 Million Stock Holdings in Atlassian Corporation PLC $TEAM

Envestnet Asset Management Inc. lowered its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 47.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 170,274 shares of the technology company’s stock after selling 152,178 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Atlassian worth $27,193,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Capco Asset Management LLC acquired a new position in Atlassian during the second quarter worth about $25,000. Physician Wealth Advisors Inc. increased its position in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in Atlassian in the second quarter valued at approximately $61,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $146.62, for a total transaction of $1,123,842.30. Following the sale, the chief executive officer owned 183,960 shares in the company, valued at $26,972,215.20. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $146.62, for a total value of $1,123,842.30. Following the completion of the sale, the director owned 183,960 shares of the company’s stock, valued at approximately $26,972,215.20. The trade was a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 513,177 shares of company stock worth $74,514,517 over the last three months. 36.66% of the stock is owned by company insiders.

Atlassian Stock Down 0.6%

Atlassian stock opened at $86.48 on Friday. The firm has a market cap of $22.75 billion, a price-to-earnings ratio of -120.11, a PEG ratio of 72.60 and a beta of 0.88. Atlassian Corporation PLC has a 52-week low of $83.17 and a 52-week high of $320.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.26 and a current ratio of 0.89. The firm has a 50 day moving average price of $139.28 and a two-hundred day moving average price of $155.36.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. Atlassian’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. Equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial set a $210.00 price target on Atlassian in a research note on Friday, October 31st. Citigroup lowered their target price on Atlassian from $210.00 to $160.00 and set a “buy” rating for the company in a report on Monday. Barclays cut their price target on Atlassian from $215.00 to $165.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Macquarie Infrastructure lowered their price objective on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Cantor Fitzgerald cut their target price on shares of Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Twenty research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $189.32.

Atlassian Company 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.