Atlassian Co. (NASDAQ:TEAM) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 224.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,679 shares of the technology company's stock after buying an additional 6,696 shares during the quarter. Merit Financial Group LLC's holdings in Atlassian were worth $2,054,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian during the 4th quarter worth $27,000. Colonial Trust Co SC boosted its position 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. Summit Securities Group LLC purchased a new stake in shares of Atlassian during the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian during the 4th quarter worth $39,000. Finally, Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Up 3.6%

TEAM opened at $218.60 on Friday. The firm has a 50 day moving average price of $209.84 and a 200 day moving average price of $244.92. The company has a market cap of $57.38 billion, a PE ratio of -163.13 and a beta of 1.06. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the 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 chief executive officer now owns 23,844 shares of the company's stock, valued at $4,969,804.92. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian Duffy sold 2,252 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $210.00, for a total transaction of $472,920.00. Following the completion of the sale, the executive now directly owns 73,360 shares of the company's stock, valued at $15,405,600. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,099 shares of company stock valued at $68,581,564. 38.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEAM shares. UBS Group decreased their price objective on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Canaccord Genuity Group decreased their price objective on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. BMO Capital Markets decreased their price objective on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price objective for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Atlassian 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.

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