Western Financial Corp CA Has $1.36 Million Stake in Atlassian Corporation PLC (NASDAQ:TEAM)

Western Financial Corp CA grew its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 190.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,419 shares of the technology company's stock after acquiring an additional 4,212 shares during the quarter. Western Financial Corp CA's holdings in Atlassian were worth $1,362,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Clean Yield Group raised its position in Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC grew its holdings in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in Atlassian in the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Performance

NASDAQ:TEAM traded up $3.82 during midday trading on Friday, reaching $202.32. The stock had a trading volume of 2,463,283 shares, compared to its average volume of 2,148,495. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The firm's fifty day simple moving average is $209.79 and its 200-day simple moving average is $237.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $53.11 billion, a P/E ratio of -121.88 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm earned $0.89 EPS. The business's revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,674 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $1,730,563.74. Following the completion of the sale, the president now owns 192,260 shares in the company, valued at approximately $43,356,552.60. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $199.71, for a total transaction of $1,530,777.15. Following the sale, the director now owns 22,995 shares of the company's stock, valued at approximately $4,592,331.45. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 388,669 shares of company stock valued at $80,949,405. Company insiders own 38.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TEAM shares. BMO Capital Markets lowered their price target on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group lowered their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. KeyCorp lowered their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley lowered their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho lowered their price target on Atlassian from $325.00 to $290.00 and set an "outperform" rating on the stock in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $282.19.

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.