E Fund Management Co. Ltd. Has $466,000 Stake in Atlassian Co. (NASDAQ:TEAM)

E Fund Management Co. Ltd. raised its stake in Atlassian Co. (NASDAQ:TEAM) by 28.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,916 shares of the technology company’s stock after acquiring an additional 423 shares during the period. E Fund Management Co. Ltd.’s holdings in Atlassian were worth $466,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TEAM. Point72 Asset Management L.P. grew its position in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP grew its position in Atlassian by 122.0% in 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 acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in Atlassian in the third quarter valued at $57,149,000. Parnassus Investments LLC grew its position in Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after acquiring an additional 226,246 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Raymond James restated an “outperform” rating and set a $330.00 target price (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. KeyCorp increased their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays increased their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group increased their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Trading Down 4.7 %

NASDAQ:TEAM opened at $238.86 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The business’s 50-day moving average price is $276.11 and its two-hundred day moving average price is $231.65. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the sale, the director now owns 111,272 shares of the company’s stock, valued at $29,971,113.20. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the firm’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 sale, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,501 shares of company stock valued at $74,977,422 over the last 90 days. 38.55% of the stock is 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.