Aviva PLC Has $31.70 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Aviva PLC decreased its position in Atlassian Co. (NASDAQ:TEAM) by 31.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 130,241 shares of the technology company’s stock after selling 58,737 shares during the period. Aviva PLC’s holdings in Atlassian were worth $31,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC grew its stake in Atlassian by 16.0% during the 3rd quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company’s stock valued at $212,000 after acquiring an additional 185 shares in the last quarter. Janus Henderson Group PLC grew its position in Atlassian by 4.2% during the third quarter. Janus Henderson Group PLC now owns 15,550 shares of the technology company’s stock valued at $2,469,000 after purchasing an additional 624 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Atlassian by 2.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 62,408 shares of the technology company’s stock valued at $9,911,000 after buying an additional 1,261 shares during the period. Quantinno Capital Management LP lifted its position in Atlassian by 121.0% in the 3rd quarter. Quantinno Capital Management LP now owns 13,381 shares of the technology company’s stock worth $2,125,000 after buying an additional 7,327 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Atlassian by 0.3% during the 3rd 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 period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Down 5.4 %

TEAM stock opened at $187.67 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $49.17 billion, a price-to-earnings ratio of -140.05 and a beta of 1.07. The business has a fifty day moving average price of $264.05 and a 200 day moving average price of $240.72. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

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 17.37%. Analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Stephens began coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price on the stock. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Macquarie upped their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $308.73.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares in the company, valued at $52,849,944.78. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,033 shares of company stock valued at $69,887,912. Insiders own 38.55% of the company’s stock.

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.