Harbor Investment Advisory LLC Acquires 1,127 Shares of Atlassian Co. (NASDAQ:TEAM)

Harbor Investment Advisory LLC lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 1,878.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,187 shares of the technology company’s stock after acquiring an additional 1,127 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Atlassian were worth $289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC grew its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian during the third quarter valued at about $48,000. Quarry LP boosted its position in Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 1.8 %

Shares of NASDAQ:TEAM opened at $260.85 on Thursday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The stock has a market cap of $67.93 billion, a price-to-earnings ratio of -171.61 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $256.71 and a 200-day moving average price of $203.21.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Equities analysts predict that Atlassian Co. will post -0.55 EPS for the current year.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $255.71, for a total transaction of $2,032,383.08. Following the sale, the director now directly owns 381,504 shares of the company’s stock, valued at $97,554,387.84. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $338,175.00. Following the sale, the director now directly owns 8,610 shares in the company, valued at approximately $1,941,124.50. This trade represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,188 shares of company stock valued at $66,820,848 over the last ninety days. Company insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TEAM. Oppenheimer raised their price objective on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Jefferies Financial Group raised their price objective on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley raised their price objective on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their price objective on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, KeyCorp raised their price objective on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.00.

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.