Sivia Capital Partners LLC Invests $312,000 in Atlassian Co. (NASDAQ:TEAM)

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

A number of other large investors also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after buying an additional 47 shares during the period. LPL Financial LLC grew its stake in Atlassian by 93.4% in the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after acquiring an additional 24,891 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Atlassian during the fourth quarter valued at $10,805,000. Shay Capital LLC acquired a new stake in Atlassian during the fourth quarter worth approximately $243,000. Finally, Empowered Funds LLC increased its stake in shares of Atlassian by 39.6% during the 4th quarter. Empowered Funds LLC now owns 3,361 shares of the technology company's stock valued at $818,000 after acquiring an additional 953 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM traded down $2.18 during mid-day trading on Thursday, hitting $199.32. 2,687,528 shares of the company were exchanged, compared to its average volume of 2,329,084. The company has a 50 day moving average of $210.19 and a 200-day moving average of $243.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $52.32 billion, a price-to-earnings ratio of -148.75 and a beta of 0.96. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. Analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEAM. Stephens dropped their price objective on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and decreased their price objective for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Wells Fargo & Company cut their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and a consensus price target of $282.19.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of Atlassian 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 in the company, valued at approximately $9,314,261.20. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Brian Duffy sold 2,252 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $210.00, for a total transaction of $472,920.00. Following the sale, the executive now directly owns 73,360 shares of the company's stock, valued at $15,405,600. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 336,429 shares of company stock worth $71,774,377 in the last 90 days. 38.55% 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.