AE Wealth Management LLC Purchases 174 Shares of Atlassian Co. (NASDAQ:TEAM)

AE Wealth Management LLC boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,738 shares of the technology company’s stock after acquiring an additional 174 shares during the period. AE Wealth Management LLC’s holdings in Atlassian were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in shares of Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian during the second quarter worth $91,072,000. Vanguard Group Inc. raised its holdings in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the period. Quadrature Capital Ltd bought a new stake in Atlassian in the 1st quarter valued at $55,307,000. Finally, Swedbank AB acquired a new position in Atlassian in the 1st quarter worth $50,923,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Trading Down 0.7 %

Shares of Atlassian stock opened at $161.98 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day simple moving average of $161.63 and a two-hundred day simple moving average of $174.94. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a market capitalization of $42.16 billion, a price-to-earnings ratio of -257.11 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. Atlassian’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. Research analysts forecast that Atlassian Co. will post -0.58 EPS for the current year.

Insider Activity

In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the sale, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at approximately $88,928,582.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, July 5th. The stock was sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the sale, the chief executive officer now owns 476,880 shares of the company’s stock, valued at $88,928,582.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated 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 directly owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,211 shares of company stock valued at $39,010,518. 40.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TEAM. Barclays dropped their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Scotiabank decreased their price target 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. Wells Fargo & Company cut their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.