Oak Thistle LLC Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Oak Thistle LLC lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 42.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,858 shares of the technology company’s stock after purchasing an additional 558 shares during the period. Oak Thistle LLC’s holdings in Atlassian were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Custom Index Systems LLC boosted its holdings in shares of Atlassian by 17.0% during the second quarter. Custom Index Systems LLC now owns 2,322 shares of the technology company’s stock worth $411,000 after purchasing an additional 337 shares during the period. Asset Dedication LLC boosted its holdings in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Atlassian by 49.9% during the second quarter. SRS Capital Advisors Inc. now owns 3,733 shares of the technology company’s stock worth $660,000 after purchasing an additional 1,243 shares during the period. Ceera Investments LLC boosted its holdings in shares of Atlassian by 2.3% during the second quarter. Ceera Investments LLC now owns 25,183 shares of the technology company’s stock worth $4,454,000 after purchasing an additional 555 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Atlassian by 20.5% during the second quarter. Illinois Municipal Retirement Fund now owns 91,874 shares of the technology company’s stock worth $16,251,000 after purchasing an additional 15,603 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $160.97, for a total value of $1,279,389.56. Following the completion of the sale, the chief executive officer now owns 135,116 shares of the company’s stock, valued at approximately $21,749,622.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the sale, the president now owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $160.97, for a total transaction of $1,279,389.56. Following the sale, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at approximately $21,749,622.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 248,107 shares of company stock valued at $41,431,817. Company insiders own 40.48% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $162.69 on Tuesday. The company has a market capitalization of $42.30 billion, a P/E ratio of -258.24 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $165.55 and a 200 day moving average of $178.18. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned ($0.21) earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Mizuho lowered their price objective on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Scotiabank lowered their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.69.

About Atlassian

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.