Financial Advocates Investment Management Purchases 62 Shares of Atlassian Co. (NASDAQ:TEAM)

Financial Advocates Investment Management lifted its position in Atlassian Co. (NASDAQ:TEAM) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,745 shares of the technology company’s stock after purchasing an additional 62 shares during the quarter. Financial Advocates Investment Management’s holdings in Atlassian were worth $662,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management raised its position in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares during the period. Trust Co. of Vermont boosted its holdings in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Atlassian during the 1st quarter worth approximately $40,000. Crewe Advisors LLC purchased a new position in Atlassian in the 1st quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its position in Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $167.45 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50 day simple moving average of $166.26 and a two-hundred day simple moving average of $180.56. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a market capitalization of $43.54 billion, a price-to-earnings ratio of -265.79 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. Analysts expect that Atlassian Co. will post -0.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TEAM. Truist Financial decreased their target price on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company decreased 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. Barclays dropped their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Oppenheimer cut their target price on Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $217.69.

Insider Activity at Atlassian

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 248,400 shares of company stock valued at $41,407,949. 40.48% of the stock is owned by 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.