Libra Wealth LLC Invests $559,000 in Atlassian Corporation PLC (NASDAQ:TEAM)

Libra Wealth LLC acquired a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,636 shares of the technology company's stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new position in Atlassian in the fourth quarter valued at approximately $687,486,000. Voya Investment Management LLC boosted its stake in Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after acquiring an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Invesco Ltd. boosted its stake in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after acquiring an additional 1,312,820 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Stock Up 3.2%

TEAM traded up $6.62 during trading on Thursday, hitting $213.40. The company had a trading volume of 1,565,901 shares, compared to its average volume of 2,148,821. The company has a market capitalization of $56.02 billion, a PE ratio of -128.55 and a beta of 0.94. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. The firm's 50-day moving average price is $210.12 and its 200 day moving average price is $236.38. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

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

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, June 30th. The shares were sold at an average price of $203.16, for a total value of $1,557,221.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Monday, June 30th. The shares were sold at an average price of $203.16, for a total transaction of $1,557,221.40. The disclosure for this sale can be found here. Insiders sold a total of 403,433 shares of company stock worth $83,749,161 over the last quarter. Company insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 price objective (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Morgan Stanley reduced their price target on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets reduced 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, Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $282.19.

Atlassian Company 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.