Founders Financial Securities LLC Has $410,000 Position in Atlassian Co. (NASDAQ:TEAM)

Founders Financial Securities LLC grew its stake in Atlassian Co. (NASDAQ:TEAM) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,099 shares of the technology company’s stock after purchasing an additional 263 shares during the period. Founders Financial Securities LLC’s holdings in Atlassian were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. First Bank & Trust acquired a new stake in Atlassian during the 1st quarter worth approximately $1,727,000. Counterpoint Mutual Funds LLC acquired a new stake in Atlassian during the 1st quarter worth approximately $266,000. Opal Wealth Advisors LLC boosted its position in Atlassian by 11.3% during the 1st quarter. Opal Wealth Advisors LLC now owns 1,383 shares of the technology company’s stock worth $270,000 after buying an additional 140 shares during the period. MJP Associates Inc. ADV boosted its position in Atlassian by 60.0% during the 1st quarter. MJP Associates Inc. ADV now owns 2,063 shares of the technology company’s stock worth $403,000 after buying an additional 774 shares during the period. Finally, David J Yvars Group acquired a new stake in Atlassian during the 1st quarter worth approximately $1,745,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Up 2.2 %

NASDAQ:TEAM opened at $176.88 on Monday. The company has a fifty day moving average of $172.25 and a 200-day moving average of $201.44. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a twelve month low of $152.34 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.40) EPS. On average, analysts predict that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on TEAM shares. Canaccord Genuity Group cut their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Truist Financial dropped their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. TD Cowen dropped their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Piper Sandler dropped their price target on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Mizuho dropped their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.47.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $193.63, for a total transaction of $147,158.80. Following the completion of the sale, the president now owns 162,610 shares in the company, valued at approximately $31,486,174.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Friday, April 12th. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the transaction, the chief executive officer now directly owns 432,378 shares of the company’s stock, valued at approximately $89,657,902.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, April 19th. The stock was sold at an average price of $193.63, for a total transaction of $147,158.80. Following the transaction, the president now directly owns 162,610 shares in the company, valued at $31,486,174.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,147 shares of company stock worth $50,166,202. 40.48% of the stock is owned by corporate insiders.

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.