Circle Wealth Management LLC Grows Position in Atlassian Co. (NASDAQ:TEAM)

Circle Wealth Management LLC boosted its position in Atlassian Co. (NASDAQ:TEAM) by 108.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,702 shares of the technology company’s stock after purchasing an additional 2,447 shares during the period. Circle Wealth Management LLC’s holdings in Atlassian were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Asset Dedication LLC grew its holdings in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian during the second quarter valued at approximately $36,000. GAMMA Investing LLC raised its stake in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Atlassian during the third quarter worth $48,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of analyst reports. UBS Group upped their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Oppenheimer increased their price objective on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Trading Up 0.4 %

TEAM stock opened at $263.58 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $269.40. The company’s 50-day simple moving average is $206.56 and its 200-day simple moving average is $179.85. The firm has a market cap 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 for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted ($0.07) EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction 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 owns 151,012 shares in the company, valued at $24,737,275.72. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,694 shares of company stock worth $50,560,726. Company insiders own 38.55% of the company’s stock.

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.