Sienna Gestion Acquires Shares of 17,661 Atlassian Co. (NASDAQ:TEAM)

Sienna Gestion acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,661 shares of the technology company's stock, valued at approximately $4,298,000.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its position in shares of 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 purchasing an additional 231 shares during the period. Avion Wealth raised its position in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. raised its position in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $49,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84. Following the sale, the director now owns 63,584 shares in the company, valued at approximately $16,425,654.72. The trade was a 11.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 264,553 shares of company stock valued at $71,956,546 in the last 90 days. 38.55% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEAM. Truist Financial reissued a "buy" rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Oppenheimer boosted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. StockNews.com raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, KeyCorp boosted their price objective on shares of Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $319.71.

Atlassian Trading Down 0.7 %

NASDAQ TEAM traded down $1.53 during trading on Tuesday, hitting $219.45. The company had a trading volume of 2,419,058 shares, compared to its average volume of 1,938,063. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a market cap of $57.50 billion, a price-to-earnings ratio of -163.77 and a beta of 0.91. The company's fifty day moving average is $272.77 and its 200-day moving average is $235.08.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share 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.