Circle Wealth Management LLC Purchases 2,447 Shares of Atlassian Co. (NASDAQ:TEAM)

Circle Wealth Management LLC lifted its position in Atlassian Co. (NASDAQ:TEAM) by 108.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,702 shares of the technology company’s stock after purchasing an additional 2,447 shares during the quarter. Circle Wealth Management LLC’s holdings in Atlassian were worth $747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Baillie Gifford & Co. increased its stake in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian in the second quarter worth $469,803,000. FMR LLC raised its holdings in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after buying an additional 150,237 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Atlassian by 5.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock valued at $192,216,000 after buying an additional 58,536 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Atlassian by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock worth $138,619,000 after acquiring an additional 26,555 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88. Following the completion of the transaction, the director now directly owns 151,012 shares in the company, valued at $24,737,275.72. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,694 shares of company stock valued at $50,560,726. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM opened at $263.58 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $269.40. The business has a fifty day moving average of $206.56 and a 200 day moving average of $179.85. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $68.64 billion, a P/E ratio of -173.41 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TEAM. Canaccord Genuity Group upped their price objective on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Piper Sandler lifted their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets increased their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Scotiabank lifted their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

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.