Creative Planning Acquires 1,941 Shares of Atlassian Co. (NASDAQ:TEAM)

Creative Planning boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 32.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,947 shares of the technology company’s stock after acquiring an additional 1,941 shares during the quarter. Creative Planning’s holdings in Atlassian were worth $1,262,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TEAM. Asset Dedication LLC lifted its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares during the period. Trust Co. of Vermont raised its holdings in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in shares of Atlassian in the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC raised its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 0.7 %

TEAM opened at $190.44 on Thursday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a fifty day moving average price of $170.72 and a 200-day moving average price of $170.98. The firm has a market capitalization of $49.57 billion, a P/E ratio of -306.38 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.13 billion. During the same period in the previous year, the business earned ($0.21) earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEAM. UBS Group lifted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday, October 1st. Truist Financial reduced their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Scotiabank reduced their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.47.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,185 shares of company stock worth $38,775,509. Corporate insiders own 40.48% of the company’s stock.

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.