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

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kirtland Hills Capital Management LLC acquired a new position in shares of Atlassian in the 4th quarter worth approximately $248,000. Illinois Municipal Retirement Fund boosted its stake in Atlassian by 3.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 80,017 shares of the technology company’s stock worth $19,475,000 after purchasing an additional 2,935 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Atlassian by 12,047.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after purchasing an additional 226,246 shares during the last quarter. Amalgamated Bank increased its stake in shares of Atlassian by 2.8% in the fourth quarter. Amalgamated Bank now owns 10,710 shares of the technology company’s stock valued at $2,607,000 after buying an additional 296 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its stake in shares of Atlassian by 0.8% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 528,349 shares of the technology company’s stock valued at $128,590,000 after buying an additional 4,421 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $265.96, for a total value of $2,113,850.08. Following the sale, the director now owns 158,960 shares in the company, valued at $42,277,001.60. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock worth $75,853,687 over the last ninety days. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $278.48 on Friday. The stock has a 50-day moving average price of $274.16 and a two-hundred day moving average price of $226.35. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market cap of $72.96 billion, a PE ratio of -207.82 and a beta of 0.87. 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 (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TEAM shares. Barclays increased their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Scotiabank upped their target price on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Robert W. Baird upped their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, UBS Group lifted their target price on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.71.

About Atlassian

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.