Farther Finance Advisors LLC Acquires 10,544 Shares of Atlassian Corporation PLC $TEAM

Farther Finance Advisors LLC lifted its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 602.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,293 shares of the technology company’s stock after acquiring an additional 10,544 shares during the period. Farther Finance Advisors LLC’s holdings in Atlassian were worth $1,993,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. boosted its stake in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares during the period. Atlantic Union Bankshares Corp boosted its stake in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares during the period. Board of the Pension Protection Fund bought a new position in shares of Atlassian in the fourth quarter worth about $32,000. Geneos Wealth Management Inc. boosted its stake in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian in the third quarter worth about $57,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TEAM shares. Citigroup lowered Atlassian from a “buy” rating to a “mixed” rating in a research note on Friday. Oppenheimer decreased their target price on Atlassian from $150.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial set a $90.00 target price on Atlassian in a research report on Wednesday. BTIG Research decreased their target price on Atlassian from $220.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Morgan Stanley decreased their target price on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday. Nineteen investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.52.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $116.40, for a total transaction of $892,206.00. Following the transaction, the director owned 298,935 shares of the company’s stock, valued at approximately $34,796,034. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $119.15, for a total value of $913,284.75. Following the transaction, the chief executive officer directly owned 314,265 shares in the company, valued at approximately $37,444,674.75. This represents a 2.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 128,653 shares of company stock worth $15,085,924. Insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $66.94 on Monday. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $242.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $73.74 and its two-hundred day simple moving average is $122.67. The company has a market cap of $17.66 billion, a PE ratio of -92.97 and a beta of 0.99.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Friday, February 6th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share 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.