Waverly Advisors LLC Makes New Investment in Atlassian Corporation PLC $TEAM

Waverly Advisors LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,476 shares of the technology company's stock, valued at approximately $815,000.

A number of other large investors have also made changes to their positions in TEAM. Nykredit A S acquired a new position in Atlassian in the 2nd quarter worth approximately $5,268,000. Parkside Financial Bank & Trust raised its stake in Atlassian by 548.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 785 shares of the technology company's stock valued at $61,000 after purchasing an additional 664 shares during the period. Corient Private Wealth LP raised its stake in Atlassian by 50.6% during the 2nd quarter. Corient Private Wealth LP now owns 24,745 shares of the technology company's stock valued at $1,925,000 after purchasing an additional 8,315 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Atlassian in the second quarter valued at $11,584,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Atlassian by 7,498.4% in the second quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company's stock valued at $1,382,162,000 after purchasing an additional 17,534,021 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Trading Up 7.3%

Atlassian stock opened at $192.77 on Tuesday. The company's fifty day simple moving average is $138.06 and its 200-day simple moving average is $100.15. The company has a quick ratio of 0.78, a current 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 stock has a market cap of $48.92 billion, a P/E ratio of -1,014.58, a P/E/G ratio of 14.12 and a beta of 1.15.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.37. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.Atlassian's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Atlassian in a report on Friday, July 17th. Mizuho set a $215.00 price objective on Atlassian in a research note on Monday. KeyCorp increased their price objective on Atlassian from $115.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Bank of America raised their price objective on Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Finally, Guggenheim lifted their target price on Atlassian from $115.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Twenty-five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $186.41.

Insiders Place Their Bets

In other Atlassian news, CRO Brian Duffy sold 7,617 shares of the company's stock in a transaction dated 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 transaction, the executive directly owned 220,074 shares of the company's stock, valued at $35,872,062. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares of the company's stock, valued at $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,138 shares of company stock valued at $3,751,873 in the last three months. Insiders own 36.66% of the company's stock.

Atlassian Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.