Harbor Capital Advisors Inc. Sells 3,459 Shares of Atlassian Co. (NASDAQ:TEAM)

Harbor Capital Advisors Inc. trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 31.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,699 shares of the technology company’s stock after selling 3,459 shares during the period. Harbor Capital Advisors Inc.’s holdings in Atlassian were worth $1,874,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new position in shares of Atlassian during the 2nd quarter worth about $469,803,000. Point72 Asset Management L.P. lifted its stake in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP boosted its holdings in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Atlassian in the 3rd quarter valued at approximately $57,149,000. Finally, Parnassus Investments LLC raised its holdings in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 0.9 %

Shares of NASDAQ TEAM opened at $242.39 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $63.13 billion, a PE ratio of -159.47 and a beta of 0.83. The firm’s 50-day moving average is $254.33 and its 200-day moving average is $199.59. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) EPS. Equities analysts expect that Atlassian Co. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on TEAM shares. Wells Fargo & Company upped their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Scotiabank increased their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, KeyCorp raised their price objective on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $266.10.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92. Following the sale, the chief executive officer now directly owns 135,116 shares in the company, valued at $37,668,989.64. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Gene Liu sold 1,024 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the transaction, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,480 shares of company stock valued at $62,377,979. 38.55% of the stock is currently owned by company insiders.

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.