K.J. Harrison & Partners Inc Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

K.J. Harrison & Partners Inc purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,500 shares of the technology company's stock, valued at approximately $1,308,000.

Several other institutional investors have also modified their holdings of TEAM. Graypoint LLC raised its position in shares of Atlassian by 2.4% during the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company's stock worth $424,000 after purchasing an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Atlassian by 1.4% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company's stock worth $736,000 after purchasing an additional 43 shares during the last quarter. Park National Corp OH raised its position in shares of Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company's stock worth $342,000 after purchasing an additional 48 shares during the last quarter. UMB Bank n.a. raised its position in shares of Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company's stock worth $248,000 after purchasing an additional 56 shares during the last quarter. Finally, Carmel Capital Partners LLC raised its position in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company's stock worth $52,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company's stock.

Atlassian Stock Down 9.6 %

Shares of Atlassian stock traded down $18.96 during trading on Friday, reaching $179.45. The company had a trading volume of 5,866,981 shares, compared to its average volume of 1,427,391. The company has a market cap of $46.55 billion, a price-to-earnings ratio of -284.84 and a beta of 0.63. The firm's fifty day moving average is $199.98 and its 200-day moving average is $206.54. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. On average, analysts anticipate that Atlassian Co. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

TEAM has been the subject of several analyst reports. William Blair reiterated an "outperform" rating on shares of Atlassian in a report on Friday, February 2nd. Robert W. Baird cut their price target on Atlassian from $270.00 to $230.00 and set an "outperform" rating for the company in a report on Friday. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They issued a "sector weight" rating for the company. UBS Group cut their price target on Atlassian from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Friday, February 2nd. Finally, Oppenheimer cut their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $223.22.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the sale, the chief executive officer now owns 329,640 shares in the company, valued at $82,990,166.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16. Following the sale, the chief executive officer now owns 329,640 shares in the company, valued at $82,990,166.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 227 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 $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock worth $61,721,553 over the last quarter. 40.48% of the stock is owned by company insiders.

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.