Dockside LLC Buys Shares of 5,734 Atlassian Corporation PLC $TEAM

Dockside LLC bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,734 shares of the technology company’s stock, valued at approximately $930,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management lifted its position in shares of Atlassian by 16.3% in the fourth quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock worth $41,273,000 after buying an additional 35,682 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Atlassian by 3.9% in the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after buying an additional 316,276 shares during the last quarter. Exane Asset Management lifted its position in shares of Atlassian by 419.9% in the fourth quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock worth $5,085,000 after buying an additional 25,330 shares during the last quarter. Nicholas Company Inc. lifted its position in shares of Atlassian by 8.7% in the fourth quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock worth $49,748,000 after buying an additional 24,490 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Atlassian by 180.3% in the third quarter. Intech Investment Management LLC now owns 140,984 shares of the technology company’s stock worth $22,515,000 after buying an additional 90,692 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TEAM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Monday, April 20th. Robert W. Baird set a $120.00 price target on Atlassian in a research report on Friday, May 1st. Barclays boosted their price target on Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wells Fargo & Company reduced their price target on Atlassian from $155.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Finally, BNP Paribas Exane started coverage on Atlassian in a research report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 20,041 shares of company stock worth $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

Atlassian stock opened at $88.52 on Monday. The business has a 50 day moving average price of $81.45 and a two-hundred day moving average price of $104.28. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The stock has a market cap of $22.46 billion, a price-to-earnings ratio of -106.65, a price-to-earnings-growth ratio of 5.02 and a beta of 1.07. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company posted $0.97 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. As a group, equities analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.