Western Financial Corp CA Purchases 3,336 Shares of Atlassian Corporation PLC $TEAM

Western Financial Corp CA bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,336 shares of the technology company’s stock, valued at approximately $598,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sanders Morris Harris LLC acquired a new position in shares of Atlassian during the 3rd quarter worth approximately $4,644,000. Seelaus Asset Management LLC acquired a new stake in shares of Atlassian in the 3rd quarter valued at approximately $558,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Atlassian in the 3rd quarter valued at approximately $243,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Atlassian in the 3rd quarter valued at approximately $431,000. Finally, Krilogy Financial LLC grew its stake in shares of Atlassian by 3.6% in the third quarter. Krilogy Financial LLC now owns 18,951 shares of the technology company’s stock valued at $3,398,000 after buying an additional 658 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $3.38 during trading hours on Wednesday, reaching $204.66. 2,080,641 shares of the stock were exchanged, compared to its average volume of 5,695,420. The firm has a market capitalization of $51.94 billion, a price-to-earnings ratio of -1,077.16, a P/E/G ratio of 16.33 and a beta of 1.22. The stock’s fifty day simple moving average is $179.66 and its 200 day simple moving average is $117.47. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $214.77.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts predict that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,125 shares of Atlassian stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the sale, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian Duffy sold 7,617 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the sale, the executive directly owned 220,074 shares of the company’s stock, valued at $35,872,062. This represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 22,475 shares of company stock worth $3,822,643. Corporate insiders own 36.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird lifted their price target on Atlassian from $200.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. UBS Group upped their price objective on Atlassian from $95.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Oppenheimer upped their price objective on Atlassian from $110.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a research report on Wednesday, July 1st. Finally, Barclays lifted their target price on Atlassian from $172.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $196.00.

Atlassian Profile

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.