Atlassian Corporation PLC $TEAM Shares Newly Acquired by Englebert Financial Advisers LLC

Key Points

• Englebert Financial Advisers acquired 4,804 Atlassian shares worth approximately $861,000 in the third quarter, while institutional investors collectively own 94.45% of TEAM’s stock.
• Atlassian reported quarterly revenue of $1.77 billion and EPS of $1.87, surpassing analyst estimates; revenue increased 27.6% year over year despite a slightly negative net margin.
• Analysts remain broadly bullish, with 25 Buy ratings and a consensus “Moderate Buy” rating. Several firms raised their price targets, with targets ranging from $222 to $260.

Englebert Financial Advisers LLC purchased a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,804 shares of the technology company's stock, valued at approximately $861,000. Atlassian accounts for about 0.9% of Englebert Financial Advisers LLC's holdings, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Carmignac Gestion grew its stake in Atlassian by 115.8% in the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock worth $177,707,000 after acquiring an additional 1,397,402 shares in the last quarter. KBC Group NV raised its stake in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after acquiring an additional 1,359,624 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company's stock valued at $343,344,000 after purchasing an additional 1,080,561 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Atlassian by 1,516.7% in the first quarter. SG Americas Securities LLC now owns 905,629 shares of the technology company's stock valued at $61,809,000 after purchasing an additional 849,613 shares during the period. Finally, First Trust Advisors LP grew its stake in Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock worth $160,377,000 after purchasing an additional 766,922 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

Shares of TEAM stock opened at $221.11 on Wednesday. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $223.70. The stock's 50-day moving average is $187.39 and its 200 day moving average is $122.60. The company has a market cap of $56.11 billion, a P/E ratio of -1,163.74, a PEG ratio of 22.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its 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. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm's revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Research analysts predict that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, CRO Brian Duffy sold 7,617 shares of the stock in a transaction that occurred on 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 owned 220,074 shares of the company's stock, valued at $35,872,062. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer directly owned 56,807 shares of the company's stock, valued at $9,941,225. The trade was a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,475 shares of company stock valued at $3,822,643 in the last 90 days. Insiders own 37.63% of the company's stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Atlassian from $200.00 to $245.00 and gave the company an "outperform" rating in a research report on Monday, September 28th. BTIG Research lifted their price objective on Atlassian from $230.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday. Mizuho lifted their price objective on Atlassian from $215.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, October 15th. KeyCorp upped their price objective on shares of Atlassian from $185.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Barclays increased their target price on shares of Atlassian from $172.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, October 13th. Twenty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $209.15.

Atlassian Company Profile

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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