Western Financial Corp CA Grows Stock Position in Atlassian Corporation PLC (NASDAQ:TEAM)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in TEAM. Farther Finance Advisors LLC raised its stake in shares of Atlassian by 37.7% in the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after purchasing an additional 101 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Atlassian by 93.4% in the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after purchasing an additional 24,891 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Atlassian during the first quarter valued at about $252,000. Yousif Capital Management LLC lifted its position in shares of Atlassian by 2.9% during the first quarter. Yousif Capital Management LLC now owns 2,063 shares of the technology company's stock valued at $438,000 after purchasing an additional 58 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Atlassian during the fourth quarter valued at about $10,805,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several analyst reports. Truist Financial decreased their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Wells Fargo & Company cut their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their price target for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and a consensus target price of $282.19.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Gene Liu sold 541 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the sale, the chief accounting officer now directly owns 51,481 shares of the company's stock, valued at $11,609,480.31. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 388,669 shares of company stock valued at $80,949,405. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of Atlassian stock traded up $3.82 during trading hours on Friday, reaching $202.32. The company had a trading volume of 2,463,283 shares, compared to its average volume of 2,147,289. The firm has a market cap of $53.11 billion, a PE ratio of -121.88 and a beta of 0.96. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. 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 business has a fifty day simple moving average of $209.80 and a 200 day simple moving average of $238.31.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

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.