Everpar Advisors LLC Purchases Shares of 866 Atlassian Co. (NASDAQ:TEAM)

Everpar Advisors LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 866 shares of the technology company’s stock, valued at approximately $211,000.

Several other hedge funds have also recently made changes to their positions in TEAM. True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the 3rd quarter worth about $48,000. Quarry LP increased its position in shares of Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the sale, the director now directly owns 309,972 shares of the company’s stock, valued at approximately $67,905,566.04. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,136 shares of company stock worth $67,814,587 in the last ninety days. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $252.36 on Friday. The company’s 50-day simple moving average is $256.36 and its two-hundred day simple moving average is $201.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, research analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEAM. Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup lifted their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer raised their price objective on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Finally, Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.00.

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.