TD Private Client Wealth LLC Acquires 2,731 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

TD Private Client Wealth LLC raised its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 27.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,593 shares of the technology company's stock after buying an additional 2,731 shares during the quarter. TD Private Client Wealth LLC's holdings in Atlassian were worth $2,672,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Clean Yield Group grew its position in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC raised its stake in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Atlassian during the 4th quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the 4th quarter worth approximately $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of analyst reports. Macquarie dropped their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. UBS Group reiterated a "hold" rating on shares of Atlassian in a research note on Monday. Barclays dropped their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $213.97, for a total transaction of $1,640,080.05. Following the sale, the director directly owned 467,565 shares of the company's stock, valued at approximately $100,044,883.05. This represents a 1.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $213.97, for a total value of $1,640,080.05. Following the sale, the chief executive officer directly owned 467,565 shares in the company, valued at approximately $100,044,883.05. This trade represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 402,867 shares of company stock worth $84,057,644. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

NASDAQ TEAM traded up $3.31 on Tuesday, reaching $219.36. The stock had a trading volume of 2,538,752 shares, compared to its average volume of 2,326,671. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a fifty day moving average of $209.30 and a two-hundred day moving average of $235.05. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a market cap of $57.58 billion, a P/E ratio of -132.14 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Atlassian 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.