K.J. Harrison & Partners Inc Invests $485,000 in Atlassian Co. (NASDAQ:TEAM)

K.J. Harrison & Partners Inc purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000 shares of the technology company’s stock, valued at approximately $485,000.

Other hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Atlassian during the 3rd quarter valued at about $606,000. Fulton Bank N.A. acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $447,000. Paloma Partners Management Co purchased a new position in Atlassian during the third quarter valued at approximately $1,588,000. Allworth Financial LP increased its stake in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares during the period. Finally, Impax Asset Management Group plc lifted its position in Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96. Following the sale, the director now owns 182,804 shares of the company’s stock, valued at $52,971,115.08. The trade was a 4.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,501 shares of company stock valued at $75,853,687. Insiders own 38.55% of the company’s stock.

Atlassian Stock Down 3.6 %

Shares of TEAM stock opened at $278.48 on Friday. The stock has a 50 day moving average of $274.16 and a 200-day moving average of $226.35. The firm has a market cap of $72.96 billion, a PE ratio of -207.82 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results 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, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Macquarie boosted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Mizuho raised their price target on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. 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 note on Friday, January 31st. Finally, Citigroup raised their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.