Aviva PLC Acquires 584 Shares of Atlassian Co. (NASDAQ:TEAM)

Aviva PLC boosted its position in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,516 shares of the technology company’s stock after buying an additional 584 shares during the quarter. Aviva PLC’s holdings in Atlassian were worth $21,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in Atlassian by 40.4% during the 4th quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock valued at $983,528,000 after buying an additional 2,199,990 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Atlassian by 7.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,767 shares of the technology company’s stock valued at $6,404,000 after buying an additional 3,314 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Atlassian by 64.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,385 shares of the technology company’s stock valued at $693,000 after buying an additional 2,120 shares during the last quarter. Tiger Global Management LLC raised its holdings in Atlassian by 13.2% during the 3rd quarter. Tiger Global Management LLC now owns 1,722,503 shares of the technology company’s stock valued at $362,742,000 after buying an additional 200,703 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Atlassian by 29.7% during the 4th quarter. IFP Advisors Inc now owns 1,261 shares of the technology company’s stock valued at $299,000 after buying an additional 289 shares during the last quarter. 45.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Atlassian from $155.00 to $130.00 in a report on Sunday, May 7th. BMO Capital Markets reduced their price objective on shares of Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective on shares of Atlassian in a research report on Monday, April 17th. Morgan Stanley reduced their price objective on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Finally, KeyCorp boosted their price objective on shares of Atlassian from $174.00 to $187.00 and gave the company an “overweight” rating in a research report on Thursday, April 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.74.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,614 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $177.86, for a total value of $1,532,086.04. Following the completion of the transaction, the chief executive officer now directly owns 155,052 shares of the company’s stock, valued at $27,577,548.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Enrique T. Salem sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the transaction, the director now directly owns 124,162 shares of the company’s stock, valued at $16,141,060. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Scott Farquhar sold 8,614 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $177.86, for a total transaction of $1,532,086.04. Following the completion of the transaction, the chief executive officer now directly owns 155,052 shares of the company’s stock, valued at $27,577,548.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,112 shares of company stock valued at $48,192,808. 43.11% of the stock is owned by corporate insiders.

Atlassian Price Performance

TEAM opened at $158.88 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.31 and a current ratio of 1.31. Atlassian Co. has a 52-week low of $113.86 and a 52-week high of $300.29. The company’s 50-day simple moving average is $153.05 and its two-hundred day simple moving average is $149.42. The stock has a market capitalization of $40.83 billion, a P/E ratio of -76.75 and a beta of 0.82.

Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The company had revenue of $915.45 million for the quarter, compared to analysts’ expectations of $898.71 million. As a group, analysts predict that Atlassian Co. will post -0.83 EPS for the current year.

About Atlassian

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.