MJP Associates Inc. ADV Buys 334 Shares of Atlassian Co. (NASDAQ:TEAM)

MJP Associates Inc. ADV raised its stake in Atlassian Co. (NASDAQ:TEAM) by 16.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,397 shares of the technology company’s stock after acquiring an additional 334 shares during the period. MJP Associates Inc. ADV’s holdings in Atlassian were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Graypoint LLC increased its holdings in Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after acquiring an additional 42 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares during the last quarter. Park National Corp OH increased its holdings in Atlassian by 4.0% in the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after acquiring an additional 58 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in Atlassian by 3.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,885 shares of the technology company’s stock valued at $448,000 after acquiring an additional 59 shares during the last quarter. Finally, STF Management LP increased its holdings in shares of Atlassian by 2.6% in the 4th quarter. STF Management LP now owns 2,551 shares of the technology company’s stock worth $607,000 after buying an additional 65 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total value of $1,518,486.66. Following the completion of the sale, the chief executive officer now directly owns 251,076 shares of the company’s stock, valued at approximately $46,263,263.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Gene Liu sold 199 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total value of $36,665.75. Following the completion of the sale, the chief accounting officer now owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $184.26, for a total transaction of $1,518,486.66. Following the completion of the sale, the chief executive officer now directly owns 251,076 shares of the company’s stock, valued at approximately $46,263,263.76. The disclosure for this sale can be found here. Insiders sold a total of 274,406 shares of company stock valued at $46,639,712 in the last three months. Company insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEAM. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Barclays reduced their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Canaccord Genuity Group reduced their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $217.69.

Atlassian Trading Up 1.9 %

Atlassian stock traded up $2.64 during trading hours on Friday, hitting $141.43. The company had a trading volume of 1,534,231 shares, compared to its average volume of 1,770,470. The firm has a market cap of $36.81 billion, a P/E ratio of -224.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a 50-day moving average price of $167.27 and a two-hundred day moving average price of $187.84.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. On average, sell-side analysts anticipate that Atlassian Co. will post -0.24 earnings per share for the current year.

Atlassian Company 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.