Royal Bank of Canada Has $112.65 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Royal Bank of Canada lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 462,871 shares of the technology company's stock after buying an additional 4,380 shares during the period. Royal Bank of Canada owned about 0.18% of Atlassian worth $112,653,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Atlassian in the 4th quarter valued at about $687,486,000. Invesco Ltd. lifted its stake in Atlassian by 265.9% in the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Geode Capital Management LLC lifted its stake in Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after purchasing an additional 27,899 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TEAM shares. Macquarie cut their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Barclays cut their target price on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Mizuho raised their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. JMP Securities reissued a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, Jefferies Financial Group lowered their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $214.47 on Tuesday. The company's 50 day simple moving average is $213.39 and its 200 day simple moving average is $247.54. The stock has a market capitalization of $56.30 billion, a price-to-earnings ratio of -160.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. As a group, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 541 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $122,000.91. Following the sale, the chief accounting officer now owns 51,481 shares in the company, valued at $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.41, for a total transaction of $1,759,766.68. Following the completion of the sale, the chief executive officer now owns 111,272 shares in the company, valued at $24,636,733.52. This represents a 6.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,249 shares of company stock valued at $61,999,348 over the last three months. 38.55% of the stock is owned by insiders.

Atlassian 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.

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