Fairvoy Private Wealth LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Fairvoy Private Wealth LLC purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,200 shares of the technology company’s stock, valued at approximately $779,000.

Other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP raised 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 purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian during the third quarter worth about $57,149,000. Parnassus Investments LLC boosted its position in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares during the period. Finally, PointState Capital LP acquired a new stake in shares of Atlassian in the third quarter valued at about $30,566,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 0.6 %

NASDAQ TEAM opened at $319.00 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $324.37. The stock’s 50-day moving average price is $263.77 and its two-hundred day moving average price is $211.16.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. As a group, equities research analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $318.91, for a total value of $2,534,696.68. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at $93,783,777.16. This represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph Leo Binz sold 1,674 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $411,485.94. Following the sale, the chief financial officer now directly owns 171,929 shares of the company’s stock, valued at $42,261,867.49. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,490 shares of company stock worth $67,515,307 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TEAM. Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company boosted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Cantor Fitzgerald raised their target price on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Macquarie started coverage on Atlassian in a research note on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $318.43.

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.