K.J. Harrison & Partners Inc Purchases Shares of 5,500 Atlassian Co. (NASDAQ:TEAM)

K.J. Harrison & Partners Inc acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,500 shares of the technology company’s stock, valued at approximately $1,308,000.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. Morgan Stanley lifted its position in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after acquiring an additional 1,095,297 shares in the last quarter. WCM Investment Management LLC boosted its holdings in Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after acquiring an additional 249,017 shares during the period. American Century Companies Inc. grew its position in Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after acquiring an additional 159,102 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Atlassian by 45.8% during the third quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after purchasing an additional 149,850 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the transaction, the president now directly owns 167,535 shares in the company, valued at $35,663,175.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $253.53, for a total value of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the transaction, the president now owns 167,535 shares in the company, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 300,450 shares of company stock worth $61,721,553. 40.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEAM. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Wells Fargo & Company increased their target price on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Oppenheimer cut their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. KeyCorp started coverage on shares of Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Piper Sandler cut their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $223.22.

Atlassian Stock Down 9.6 %

TEAM traded down $18.96 during trading on Friday, reaching $179.45. 5,866,981 shares of the company were exchanged, compared to its average volume of 1,427,391. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day moving average of $199.98 and a 200 day moving average of $206.53.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities research analysts expect that Atlassian Co. will post -0.4 earnings per share for the current year.

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.