Atlassian Co. (NASDAQ:TEAM) Shares Sold by Aviva PLC

Aviva PLC lowered its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the 4th quarter worth $27,000. Summit Securities Group LLC purchased a new position in shares of Atlassian in the fourth quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian in the fourth quarter worth about $39,000. Avion Wealth lifted its holdings in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the period. Finally, Assetmark Inc. boosted its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Down 1.7 %

Shares of Atlassian stock traded down $3.43 on Friday, reaching $194.60. The company had a trading volume of 796,336 shares, compared to its average volume of 2,035,424. The firm has a market cap of $50.99 billion, a PE ratio of -144.47 and a beta of 1.07. The firm's 50 day moving average price is $253.50 and its two-hundred day moving average price is $241.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

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Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60. Following the transaction, the chief executive officer now directly owns 405,348 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 263,033 shares of company stock valued at $68,608,284. 38.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Atlassian from $375.00 to $330.00 and set an "overweight" rating on the stock in a research report on Thursday. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $297.50.

Atlassian Company Profile

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.