Sivia Capital Partners LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Sivia Capital Partners LLC acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,469 shares of the technology company's stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Atlassian in the 4th quarter valued at about $687,486,000. Invesco Ltd. lifted its stake in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Atlassian by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after purchasing an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In other news, President Anutthara Bharadwaj sold 7,674 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares of the company's stock, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the completion of the transaction, the director now owns 39,740 shares of the company's stock, valued at $9,314,261.20. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,047 shares of company stock worth $70,283,469 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 1.9%

Shares of NASDAQ:TEAM opened at $214.51 on Monday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm's 50-day simple moving average is $209.80 and its 200-day simple moving average is $244.62. The company has a market cap of $56.31 billion, a price-to-earnings ratio of -160.08 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Macquarie lowered their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Raymond James reaffirmed an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. UBS Group reduced their target price on Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $285.29.

About Atlassian

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.

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