TriaGen Wealth Management LLC Invests $269,000 in Atlassian Co. Plc (NASDAQ:TEAM)

TriaGen Wealth Management LLC acquired a new position in shares of Atlassian Co. Plc (NASDAQ:TEAM) in the third quarter, Holdings Channel.com reports. The fund acquired 686 shares of the technology company’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC purchased a new position in Atlassian in the 3rd quarter worth $27,000. Farmers & Merchants Investments Inc. purchased a new position in Atlassian in the 3rd quarter worth $29,000. First Horizon Advisors Inc. raised its position in Atlassian by 996.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 581 shares of the technology company’s stock worth $36,000 after purchasing an additional 528 shares during the period. BerganKDV Wealth Management LLC raised its position in Atlassian by 48.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 153 shares of the technology company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in Atlassian by 45.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 154 shares of the technology company’s stock worth $40,000 after purchasing an additional 48 shares during the period. 85.38% of the stock is owned by institutional investors.

A number of equities analysts recently commented on TEAM shares. Wolfe Research lifted their target price on shares of Atlassian from $400.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Truist boosted their price objective on shares of Atlassian from $400.00 to $500.00 and gave the company a “hold” rating in a research report on Friday, October 29th. Jefferies Financial Group decreased their price objective on shares of Atlassian from $460.00 to $355.00 in a research report on Thursday, January 6th. Robert W. Baird boosted their price objective on shares of Atlassian from $400.00 to $520.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Finally, Morgan Stanley boosted their price target on shares of Atlassian from $320.00 to $505.00 and gave the company an “overweight” rating in a research report on Friday, October 22nd. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $447.17.

Shares of TEAM stock traded down $10.23 during trading hours on Friday, reaching $288.42. 71,744 shares of the stock were exchanged, compared to its average volume of 2,654,497. Atlassian Co. Plc has a 12-month low of $198.80 and a 12-month high of $483.13. The business’s fifty day moving average is $379.86 and its two-hundred day moving average is $362.25. The firm has a market capitalization of $39.60 billion, a P/E ratio of -69.45, a P/E/G ratio of 88.41 and a beta of 0.85.

Atlassian (NASDAQ:TEAM) last released its earnings results on Wednesday, October 27th. The technology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Atlassian had a positive return on equity of 12.63% and a negative net margin of 47.91%. The company had revenue of $516.01 million during the quarter, compared to the consensus estimate of $585.64 million. During the same quarter last year, the company earned $0.05 earnings per share. Atlassian’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts predict that Atlassian Co. Plc will post 0.16 EPS for the current year.

Atlassian Profile

Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include Jira software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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