Royal London Asset Management Ltd. Has $16.45 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Royal London Asset Management Ltd. grew its stake in Atlassian Co. (NASDAQ:TEAM) by 8.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 67,580 shares of the technology company’s stock after buying an additional 5,172 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Atlassian were worth $16,448,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. FMR LLC lifted its position in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after purchasing an additional 57,911 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Atlassian by 5.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock worth $192,216,000 after acquiring an additional 58,536 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Stephens initiated coverage on shares of Atlassian in a research report on Wednesday. They set an “equal weight” rating and a $255.00 price target on the stock. Finally, Canaccord Genuity Group upped their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.77.

Atlassian Trading Up 0.5 %

TEAM stock opened at $227.34 on Friday. The company has a market capitalization of $59.56 billion, a PE ratio of -169.66 and a beta of 0.91. 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. The company’s 50-day simple moving average is $271.24 and its 200 day simple moving average is $236.29.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64. Following the sale, the chief executive officer now directly owns 55,636 shares in the company, valued at $12,625,477.48. This represents a 12.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 568 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $71,015,177 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

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.