Brighton Jones LLC Takes $206,000 Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Brighton Jones LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the 1st quarter, Holdings Channel.com reports. The fund purchased 969 shares of the technology company’s stock, valued at approximately $206,000.

Other hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $27,000. Clean Yield Group grew its holdings in 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 acquiring an additional 93 shares during the period. Colonial Trust Co SC grew its holdings in 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 acquiring an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in Atlassian during the 4th quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the 4th quarter worth $39,000. 94.45% of the stock is owned by institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $196.14 on Thursday. The company has a fifty day moving average price of $210.54 and a 200 day moving average price of $241.58. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $51.49 billion, a PE ratio of -118.16 and a beta of 0.96.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted $0.89 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on TEAM. Mizuho lowered their target price on shares of Atlassian from $325.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday, June 12th. Wells Fargo & Company lowered their target price on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. UBS Group lowered their target price on shares of Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Morgan Stanley lowered their target price on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $282.19.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 7,674 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the completion of the transaction, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60. Following the transaction, the director now owns 53,655 shares of the company’s stock, valued at approximately $10,539,988.20. This represents a 12.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 366,523 shares of company stock worth $77,393,768 in the last three months. Insiders own 38.55% 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.