Harbor Capital Advisors Inc. Buys 5,258 Shares of Atlassian Co. (NASDAQ:TEAM)

Harbor Capital Advisors Inc. lifted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 89.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,158 shares of the technology company's stock after purchasing an additional 5,258 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Atlassian were worth $1,772,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new position in Atlassian in the 2nd quarter valued at $469,803,000. Price T Rowe Associates Inc. MD grew its position in Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock worth $2,173,847,000 after buying an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Atlassian during the 2nd quarter worth $91,072,000. Quadrature Capital Ltd bought a new position in Atlassian in the 1st quarter valued at about $55,307,000. Finally, Swedbank AB bought a new stake in shares of Atlassian during the 1st quarter worth approximately $50,923,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TEAM. Scotiabank raised their target price on Atlassian from $175.00 to $250.00 and gave the company a "sector perform" rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of Atlassian from $250.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Raymond James upped their price objective on Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Baird R W lowered shares of Atlassian from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. Finally, JMP Securities raised shares of Atlassian to a "hold" rating in a research note on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $243.16.

Atlassian Trading Up 1.8 %

Shares of TEAM stock traded up $3.99 during trading hours on Wednesday, reaching $225.57. The company had a trading volume of 2,422,552 shares, compared to its average volume of 1,840,976. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The business has a fifty day simple moving average of $175.52 and a 200-day simple moving average of $171.52.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. Analysts anticipate that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $1,028,052.00. Following the transaction, the president now owns 224,436 shares of the company's stock, valued at approximately $50,599,096.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Gene Liu sold 1,024 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the transaction, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares in the company, valued at $50,599,096.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,269 shares of company stock valued at $42,006,228 over the last three months. Corporate insiders own 38.55% of the company's stock.

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.