Fisher Funds Management LTD Makes New $47.47 Million Investment in Atlassian Co. (NASDAQ:TEAM)

Fisher Funds Management LTD purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 195,491 shares of the technology company’s stock, valued at approximately $47,469,000. Atlassian comprises about 1.1% of Fisher Funds Management LTD’s investment portfolio, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of TEAM. Baillie Gifford & Co. lifted its stake in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the last quarter. State Street Corp lifted its position in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after buying an additional 131,621 shares during the last quarter. FMR LLC boosted its stake in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after acquiring an additional 57,911 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TEAM shares. Barclays lifted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their target price on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group increased their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Cantor Fitzgerald boosted their price objective on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares of the company’s stock, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares of the company’s stock, valued at approximately $61,147,814.56. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 283,449 shares of company stock valued at $77,580,151. 38.55% of the stock is currently owned by insiders.

Atlassian Trading Down 4.2 %

Shares of Atlassian stock opened at $285.99 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a market capitalization of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The firm’s 50-day moving average price is $272.98 and its two-hundred day moving average price is $223.27.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. On average, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.