TD Waterhouse Canada Inc. Boosts Position in Atlassian Corporation PLC $TEAM

TD Waterhouse Canada Inc. boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 21,720.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,728 shares of the technology company's stock after buying an additional 8,688 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Atlassian were worth $726,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC grew its stake in Atlassian by 30.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,987 shares of the technology company's stock worth $388,000 after acquiring an additional 1,157 shares in the last quarter. Nykredit A S purchased a new stake in shares of Atlassian in the second quarter valued at approximately $5,997,000. B. Metzler seel. Sohn & Co. AG grew its stake in Atlassian by 12.8% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 8,408 shares of the technology company's stock worth $654,000 after purchasing an additional 953 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Atlassian in the second quarter worth approximately $310,000. Finally, Greenleaf Trust purchased a new position in Atlassian during the 2nd quarter worth $242,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Up 0.7%

NASDAQ:TEAM opened at $177.74 on Thursday. The company has a market capitalization of $45.11 billion, a P/E ratio of -935.47, a PEG ratio of 13.86 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $198.60. The firm has a fifty day simple moving average of $132.08 and a 200-day simple moving average of $97.78.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm's revenue was up 27.6% on a year-over-year basis. On average, equities research analysts anticipate that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.

Insider Activity

In related news, CRO Brian Duffy sold 7,617 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $163.00, for a total value of $1,241,571.00. Following the sale, the executive owned 220,074 shares in the company, valued at $35,872,062. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the transaction, the chief accounting officer owned 56,807 shares in the company, valued at approximately $9,941,225. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 25,138 shares of company stock valued at $4,021,003. Company insiders own 36.66% of the company's stock.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Atlassian in a research report on Friday, July 17th. Royal Bank Of Canada started coverage on Atlassian in a research note on Tuesday, August 25th. They set an "outperform" rating and a $215.00 price target on the stock. Citizens Jmp reaffirmed a "market perform" rating on shares of Atlassian in a research note on Wednesday, July 1st. Jefferies Financial Group reiterated a "buy" rating and set a $200.00 target price on shares of Atlassian in a report on Friday, August 7th. Finally, Morgan Stanley boosted their price target on shares of Atlassian from $120.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $183.81.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.

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