Atlassian Corporation PLC $TEAM Holdings Reduced by Sigma Planning Corp

Key Points

• Sigma Planning Corp reduced its Atlassian stake by 82.5% in the third quarter, selling 5,939 shares and retaining 1,257 shares worth approximately $225,000. Institutional investors collectively own 94.45% of TEAM.
• Atlassian reported quarterly revenue of $1.77 billion, up 27.6% year over year, and adjusted earnings of $1.87 per share, exceeding analyst expectations of $1.50.
• Wall Street maintains a “Moderate Buy” consensus, with 23 Buy, four Hold, and one Sell rating and an average price target of $216.36, versus the reported share price of $187.08.

Sigma Planning Corp cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 82.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,257 shares of the technology company's stock after selling 5,939 shares during the period. Sigma Planning Corp's holdings in Atlassian were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TEAM. Revolve Wealth Partners LLC acquired a new stake in Atlassian in the 3rd quarter worth $265,000. EULAV Asset Management acquired a new position in shares of Atlassian during the third quarter valued at about $11,364,000. Signaturefd LLC raised its position in shares of Atlassian by 22.7% during the third quarter. Signaturefd LLC now owns 6,651 shares of the technology company's stock valued at $1,192,000 after buying an additional 1,231 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Atlassian by 67.5% in the third quarter. Citizens Financial Group Inc. RI now owns 14,802 shares of the technology company's stock valued at $2,654,000 after buying an additional 5,965 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in shares of Atlassian in the third quarter valued at about $375,000. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Down 2.4%

Shares of NASDAQ TEAM opened at $187.08 on Tuesday. The stock has a market cap of $47.36 billion, a PE ratio of -984.63, a PEG ratio of 23.47 and a beta of 1.22. 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 $229.96. The business has a fifty day moving average of $195.53 and a two-hundred day moving average of $118.47.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping 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 business 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 company earned $0.98 EPS. Atlassian's revenue for the quarter was up 27.6% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TEAM shares. Guggenheim lifted their target price on Atlassian from $165.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, October 19th. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, September 13th. Oppenheimer upped their price target on Atlassian from $200.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, October 22nd. Bank of America raised their price objective on Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Finally, Raymond James Financial set a $180.00 price objective on Atlassian in a report on Friday, August 7th. Twenty-three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.36.

Insider Transactions at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the sale, the chief financial officer owned 279,218 shares of the company's stock, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the firm's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the sale, the chief accounting officer directly owned 55,531 shares in the company, valued at $11,661,510. The trade was a 0.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,475 shares of company stock worth $3,822,643 in the last quarter. 37.63% of the stock is owned by company insiders.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.

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