Fisher Funds Management LTD Has $15.19 Million Position in Atlassian Corporation PLC $TEAM

Fisher Funds Management LTD lessened its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,613 shares of the technology company’s stock after selling 111,398 shares during the period. Fisher Funds Management LTD’s holdings in Atlassian were worth $15,193,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Atlassian by 22.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,081 shares of the technology company’s stock valued at $893,000 after purchasing an additional 2,414 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Atlassian by 29.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,056 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 1,818 shares during the last quarter. DUTCH ASSET Corp acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $448,000. Larry Mathis Financial Planning LLC acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $364,000. Finally, Corient Private Wealth LLC raised its holdings in Atlassian by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 8,602 shares of the technology company’s stock valued at $1,395,000 after buying an additional 344 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares in the company, valued at $20,426,159.61. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,041 shares of company stock worth $1,801,069 over the last 90 days. Company insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $82.72 on Monday. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50-day moving average is $83.38 and its 200 day moving average is $102.04. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of -99.66, a PEG ratio of 4.69 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on TEAM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research report on Monday, April 20th. Robert W. Baird set a $120.00 price target on shares of Atlassian in a research report on Friday, May 1st. Oppenheimer raised their price target on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. UBS Group dropped their price target on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Finally, Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Atlassian 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.