Harber Asset Management LLC Buys Shares of 56,092 Atlassian Corporation PLC $TEAM

Harber Asset Management LLC bought a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 56,092 shares of the technology company’s stock, valued at approximately $9,095,000. Atlassian comprises 3.8% of Harber Asset Management LLC’s investment portfolio, making the stock its 9th biggest position.

Several other hedge funds have also bought and sold shares of TEAM. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Atlassian during the fourth quarter worth approximately $32,000. Basepoint Wealth LLC purchased a new position in shares of Atlassian during the fourth quarter worth approximately $32,000. Bogart Wealth LLC raised its stake in shares of Atlassian by 76.4% during the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after acquiring an additional 94 shares in the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Atlassian during the fourth quarter worth approximately $41,000. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEAM. Mizuho decreased their price target on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Oppenheimer lifted their target price on shares of Atlassian from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. BTIG Research lifted their target price on shares of Atlassian from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

Insiders Place Their Bets

In other news, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the sale, the executive owned 227,691 shares in the company, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 20,041 shares of company stock worth $1,801,069. Company insiders own 36.66% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $88.52 on Friday. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The stock has a market cap of $22.46 billion, a PE ratio of -106.65, a price-to-earnings-growth ratio of 5.02 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The company’s fifty day moving average price is $81.45 and its 200-day moving average price is $104.57.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.