Everpar Advisors LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Everpar Advisors LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 866 shares of the technology company’s stock, valued at approximately $211,000.

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

Insider Activity

In related news, CAO Gene Liu sold 165 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This represents a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now directly owns 309,972 shares in the company, valued at $67,905,566.04. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,136 shares of company stock valued at $67,814,587. Corporate insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TEAM shares. KeyCorp raised their price objective on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Truist Financial upgraded 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. Morgan Stanley increased their price objective on Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Macquarie began coverage on Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price for the company. Finally, Robert W. Baird increased their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $272.00.

Atlassian Price Performance

TEAM opened at $252.36 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $256.36 and a 200-day moving average price of $201.95. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97.

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

Atlassian 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.