Paragon Capital Management Inc. Invests $685,000 in Atlassian Corporation PLC (NASDAQ:TEAM)

Paragon Capital Management Inc. acquired a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,229 shares of the technology company's stock, valued at approximately $685,000.

Several other large investors also recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC raised its holdings in shares of Atlassian by 26.2% in the 1st quarter. Transcend Capital Advisors LLC now owns 1,580 shares of the technology company's stock valued at $335,000 after acquiring an additional 328 shares in the last quarter. Diversified Trust Co increased its position in shares of Atlassian by 40.6% in the first quarter. Diversified Trust Co now owns 20,925 shares of the technology company's stock worth $4,440,000 after purchasing an additional 6,044 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in Atlassian in the first quarter valued at approximately $340,000. Perpetual Ltd lifted its position in Atlassian by 56.3% during the first quarter. Perpetual Ltd now owns 11,680 shares of the technology company's stock valued at $2,479,000 after purchasing an additional 4,206 shares during the last quarter. Finally, Western Financial Corp CA lifted its position in Atlassian by 190.8% during the first quarter. Western Financial Corp CA now owns 6,419 shares of the technology company's stock valued at $1,362,000 after purchasing an additional 4,212 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $199.71, for a total transaction of $1,530,777.15. Following the completion of the sale, the chief executive officer now directly owns 22,995 shares in the company, valued at $4,592,331.45. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 388,669 shares of company stock valued at $80,949,405 over the last three months. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $198.50 on Friday. The business has a 50 day moving average of $209.89 and a 200 day moving average of $238.82. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a market cap of $52.11 billion, a PE ratio of -119.58 and a beta of 0.96. 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 issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $0.89 EPS. The company's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Mizuho lowered their price target on Atlassian from $325.00 to $290.00 and set an "outperform" rating on the stock in a research report on Thursday, June 12th. Piper Sandler reiterated an "overweight" rating and issued a $300.00 price objective (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. KeyCorp decreased their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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