First Bank & Trust Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

First Bank & Trust purchased a new position in Atlassian Co. (NASDAQ:TEAM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,852 shares of the technology company’s stock, valued at approximately $1,727,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after buying an additional 291 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Atlassian in the 4th quarter worth about $107,000. Newbridge Financial Services Group Inc. grew its position in shares of Atlassian by 38.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $127,000 after buying an additional 150 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in Atlassian during the 4th quarter valued at about $136,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the transaction, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Gene Liu sold 199 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total value of $36,665.75. Following the completion of the sale, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the transaction, the chief executive officer now directly owns 432,378 shares in the company, valued at approximately $89,657,902.08. The disclosure for this sale can be found here. Insiders sold a total of 288,388 shares of company stock valued at $51,761,248 in the last 90 days. Company insiders own 40.48% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. Canaccord Genuity Group cut their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Truist Financial reduced their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company dropped their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Mizuho lowered their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.28.

Atlassian Stock Performance

TEAM stock traded up $3.89 during trading on Friday, reaching $176.88. The stock had a trading volume of 1,847,166 shares, compared to its average volume of 1,682,858. The firm has a market cap of $46.04 billion, a PE ratio of -280.76 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average is $172.25 and its two-hundred day moving average is $201.53. Atlassian Co. has a 52 week low of $152.34 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) EPS. As a group, equities analysts anticipate that Atlassian Co. will post -0.21 earnings per share for the current year.

About Atlassian

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.