Polianta Ltd Purchases New Stake in Atlassian Co. (NASDAQ:TEAM)

Polianta Ltd purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,100 shares of the technology company’s stock, valued at approximately $1,082,000.

Several other hedge funds have also bought and sold shares of TEAM. Empowered Funds LLC grew its position in Atlassian by 39.6% in the 4th quarter. Empowered Funds LLC now owns 3,361 shares of the technology company’s stock valued at $818,000 after purchasing an additional 953 shares during the period. Savant Capital LLC acquired a new stake in Atlassian in the 4th quarter valued at $248,000. Essex Financial Services Inc. grew its position in Atlassian by 10.9% in the 4th quarter. Essex Financial Services Inc. now owns 1,244 shares of the technology company’s stock valued at $303,000 after purchasing an additional 122 shares during the period. Gladstone Institutional Advisory LLC acquired a new stake in Atlassian in the 4th quarter valued at $577,000. Finally, AFT Forsyth & Company Inc. grew its position in Atlassian by 2.8% in the 4th quarter. AFT Forsyth & Company Inc. now owns 6,120 shares of the technology company’s stock valued at $1,489,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 121 shares of Atlassian stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $214.88, for a total transaction of $26,000.48. Following the completion of the transaction, the chief accounting officer now owns 51,360 shares of the company’s stock, valued at $11,036,236.80. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $215.23, for a total value of $1,649,737.95. Following the transaction, the director now directly owns 107,310 shares of the company’s stock, valued at $23,096,331.30. The trade was a 6.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 336,429 shares of company stock worth $71,774,377. Company insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $199.32 on Friday. The company’s 50-day moving average is $210.19 and its 200 day moving average is $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 company has a market capitalization of $52.32 billion, a P/E ratio of -148.75 and a beta of 0.96. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Jefferies Financial Group reduced their price target on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Robert W. Baird upgraded Atlassian from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. UBS Group dropped their price objective on Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. KeyCorp dropped their price objective on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Piper Sandler restated an “overweight” rating and set a $300.00 price objective (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Four equities research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.19.

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.