Twin Focus Capital Partners LLC Takes $227,000 Position in Atlassian Co. (NASDAQ:TEAM)

Twin Focus Capital Partners LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 955 shares of the technology company’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after buying an additional 291 shares during the period. GAMMA Investing LLC purchased a new position in Atlassian during the 4th quarter worth $107,000. Operose Advisors LLC acquired a new stake in shares of Atlassian in the 3rd quarter worth $99,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Atlassian by 30.4% in the fourth quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock valued at $137,000 after acquiring an additional 135 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM traded up $4.07 during mid-day trading on Friday, reaching $160.09. 1,444,094 shares of the company’s stock were exchanged, compared to its average volume of 1,837,244. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 52-week low of $154.02 and a 52-week high of $258.69. The company has a market cap of $41.67 billion, a price-to-earnings ratio of -254.11 and a beta of 0.73. The company has a 50-day simple moving average of $179.40 and a two-hundred day simple moving average of $203.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted ($0.40) earnings per share. Atlassian’s revenue was up 29.9% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the completion of the sale, the chief executive officer now directly owns 432,378 shares in the company, valued at $89,657,902.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the transaction, the chief executive officer now owns 432,378 shares of the company’s stock, valued at approximately $89,657,902.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $163.54, for a total value of $1,299,815.92. Following the completion of the sale, the chief executive officer now directly owns 87,428 shares of the company’s stock, valued at approximately $14,297,975.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,145 shares of company stock worth $51,858,231. Corporate insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 26th. TD Cowen reduced their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Oppenheimer decreased their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Robert W. Baird cut their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Canaccord Genuity Group reduced their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

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.