Fisher Funds Management LTD Acquires Shares of 195,491 Atlassian Co. (NASDAQ:TEAM)

Fisher Funds Management LTD bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 195,491 shares of the technology company’s stock, valued at approximately $47,469,000. Atlassian comprises 1.1% of Fisher Funds Management LTD’s investment portfolio, making the stock its 25th largest position. Fisher Funds Management LTD owned 0.08% of Atlassian at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Creative Planning increased its position in Atlassian by 32.3% in the 3rd quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 1,941 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock valued at $383,000 after purchasing an additional 111 shares in the last quarter. International Assets Investment Management LLC bought a new position in Atlassian in the 3rd quarter worth approximately $97,350,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Atlassian by 36.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,869 shares of the technology company’s stock worth $297,000 after buying an additional 500 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48. Following the sale, the chief executive officer now directly owns 214,596 shares in the company, valued at approximately $63,844,455.96. The trade was a 3.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the transaction, the president now owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 283,449 shares of company stock worth $77,580,151 over the last three months. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TEAM shares. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. KeyCorp boosted their price objective on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Price Performance

NASDAQ TEAM opened at $285.99 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The business has a 50 day simple moving average of $272.98 and a 200 day simple moving average of $223.27. The stock has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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%. Analysts anticipate 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.