Prudential PLC Acquires 2,612 Shares of Atlassian Co. (NASDAQ:TEAM)

Prudential PLC lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,996 shares of the technology company's stock after purchasing an additional 2,612 shares during the quarter. Prudential PLC's holdings in Atlassian were worth $2,189,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian during the fourth quarter worth about $687,486,000. JPMorgan Chase & Co. boosted its position in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Norges Bank bought a new position in shares of Atlassian during the 4th quarter worth approximately $296,697,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $234,547,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of 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 worth $55,521,000 after purchasing an additional 226,246 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TEAM shares. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Scotiabank lifted their target price on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Stephens started coverage on Atlassian in a report on Wednesday, March 19th. They set an "equal weight" rating and a $255.00 target price on the stock. Wells Fargo & Company decreased their price target on Atlassian from $375.00 to $330.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Jefferies Financial Group decreased their target price on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $297.50.

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Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60. Following the sale, the chief executive officer now owns 405,348 shares of the company's stock, valued at approximately $101,823,417.60. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,033 shares of company stock valued at $68,608,284. Company insiders own 38.55% of the company's stock.

Atlassian Price Performance

Atlassian stock traded down $5.27 during mid-day trading on Friday, reaching $192.76. 705,601 shares of the company were exchanged, compared to its average volume of 2,035,135. The firm has a market cap of $50.50 billion, a PE ratio of -144.34 and a beta of 1.07. 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 company has a fifty day simple moving average of $253.50 and a 200-day simple moving average of $241.00. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.