Cyndeo Wealth Partners LLC Makes New $632,000 Investment in Atlassian Corporation PLC (NASDAQ:TEAM)

Cyndeo Wealth Partners LLC purchased a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,979 shares of the technology company's stock, valued at approximately $632,000.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in Atlassian by 39.6% in the 4th quarter. Empowered Funds LLC now owns 3,361 shares of the technology company's stock worth $818,000 after purchasing an additional 953 shares in the last quarter. Savant Capital LLC acquired a new position in Atlassian in the 4th quarter worth about $248,000. Rhumbline Advisers increased its holdings in Atlassian by 1.6% in the 4th quarter. Rhumbline Advisers now owns 198,041 shares of the technology company's stock worth $48,199,000 after purchasing an additional 3,067 shares in the last quarter. Allworth Financial LP increased its holdings in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Atlassian in the 4th quarter worth about $256,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Down 1.0%

NASDAQ:TEAM traded down $2.06 on Wednesday, hitting $196.14. The stock had a trading volume of 3,199,624 shares, compared to its average volume of 2,130,775. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $51.49 billion, a PE ratio of -118.16 and a beta of 0.96. The business's fifty day moving average is $210.54 and its 200 day moving average is $241.58. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00.

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

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,674 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the completion of the sale, the president now directly owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $196.44, for a total value of $1,505,712.60. Following the completion of the sale, the director now directly owns 53,655 shares of the company's stock, valued at $10,539,988.20. This represents a 12.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,471 shares of company stock valued at $79,197,407. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TEAM shares. Truist Financial lowered their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Mizuho decreased their price target on Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. BMO Capital Markets dropped their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $282.19.

About Atlassian

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.