Cwm LLC Buys 139,811 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Cwm LLC boosted its stake in Atlassian (NASDAQ:TEAM) by 316.2%, buying 139,811 shares to hold 184,026 shares worth about $29.8 million (≈0.07% of the company).
• Q4 results: Atlassian reported EPS of $1.22 and revenue of $1.59B, beating estimates with revenue up 23.3% year-over-year, but the company still posted a negative net margin (-3.29%) and negative ROE (-6.33%) and analysts expect -0.34 EPS for the current fiscal year.
• Insiders have sold 128,653 shares (~$15.1M) in the past three months (founders each sold 7,665 shares); institutional investors own 94.45% of the stock while insiders hold 36.66%, and analysts’ consensus is a “Moderate Buy” with an average target of $159.37.

Cwm LLC grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 316.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 184,026 shares of the technology company's stock after acquiring an additional 139,811 shares during the period. Cwm LLC owned about 0.07% of Atlassian worth $29,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its stake in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after acquiring an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the third quarter valued at approximately $57,000. Institutional investors own 94.45% of the company's stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $68.73 on Friday. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of -95.46 and a beta of 0.99. The company's 50 day moving average is $74.29 and its 200 day moving average is $123.80. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $242.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. Atlassian's revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $116.40, for a total value of $892,206.00. Following the transaction, the director directly owned 298,935 shares of the company's stock, valued at approximately $34,796,034. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Friday, January 30th. The stock was sold at an average price of $119.15, for a total transaction of $913,284.75. Following the completion of the transaction, the chief executive officer directly owned 314,265 shares in the company, valued at $37,444,674.75. This represents a 2.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 128,653 shares of company stock worth $15,085,924. 36.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. Cantor Fitzgerald decreased their price target on shares of Atlassian from $240.00 to $146.00 and set an "overweight" rating for the company in a research note on Wednesday, February 4th. Wolfe Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Atlassian in a research note on Thursday, March 12th. Morgan Stanley decreased their price target on shares of Atlassian from $290.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday. Piper Sandler reaffirmed an "overweight" rating and set a $200.00 price target (down from $280.00) on shares of Atlassian in a research note on Friday, February 6th. Finally, Jefferies Financial Group set a $150.00 price target on shares of Atlassian in a research note on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $159.37.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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