Sivia Capital Partners LLC Invests $2.53 Million in Atlassian Corporation PLC $TEAM

Sivia Capital Partners LLC purchased a new position in Atlassian Corporation PLC (NASDAQ:TEAM) in the fourth quarter, HoldingsChannel reports. The firm purchased 15,600 shares of the technology company’s stock, valued at approximately $2,529,000. Atlassian comprises 0.5% of Sivia Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its stake in shares of Atlassian by 9.0% in the 4th quarter. CIBC Asset Management Inc now owns 37,916 shares of the technology company’s stock worth $6,148,000 after acquiring an additional 3,136 shares during the period. Westpac Banking Corp lifted its stake in shares of Atlassian by 242.9% in the 4th quarter. Westpac Banking Corp now owns 17,013 shares of the technology company’s stock worth $2,758,000 after acquiring an additional 12,051 shares during the period. Rothschild Wealth LLC acquired a new stake in shares of Atlassian in the 4th quarter worth approximately $730,000. Waterloo Capital L.P. bought a new stake in shares of Atlassian in the 4th quarter worth approximately $251,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Atlassian by 6.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 67,124 shares of the technology company’s stock worth $10,883,000 after purchasing an additional 3,810 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 6.9%

Shares of NASDAQ:TEAM opened at $101.53 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $25.77 billion, a PE ratio of -122.33, a price-to-earnings-growth ratio of 6.19 and a beta of 1.07. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59. The firm has a 50 day simple moving average of $77.63 and a 200 day simple moving average of $106.86.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, research analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TEAM shares. Truist Financial raised their target price on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Robert W. Baird set a $120.00 price target on Atlassian in a report on Friday, May 1st. UBS Group dropped their price target on Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Mizuho dropped their price target on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Finally, Cantor Fitzgerald upped their price target on Atlassian from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.63.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the sale, the executive owned 236,841 shares of the company’s stock, valued at approximately $20,782,797.75. This trade represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 10,891 shares of company stock valued at $955,683. 36.66% of the stock is owned by insiders.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.