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

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

Several other institutional investors have also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new position in shares of Atlassian in the third quarter worth about $26,000. Carmel Capital Partners LLC grew its holdings in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Atlassian in the 4th quarter worth about $107,000. Finally, Operose Advisors LLC purchased a new stake in shares of Atlassian during the 3rd quarter valued at about $99,000. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 9.6 %

Shares of TEAM stock traded down $18.96 on Friday, hitting $179.45. The stock had a trading volume of 5,866,981 shares, compared to its average volume of 1,427,391. 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 one year low of $128.02 and a one year high of $258.69. The business has a 50 day moving average price of $199.98 and a 200 day moving average price 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 for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. On average, research analysts predict that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Rajeev Bashyam Rajan sold 872 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $185,622.64. Following the transaction, the chief technology officer now owns 142,103 shares in the company, valued at $30,249,465.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,450 shares of company stock valued at $61,721,553. 40.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TEAM has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Mizuho lowered their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird cut their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday. Canaccord Genuity Group cut their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday. Finally, Piper Sandler decreased their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.