Atlassian Corporation PLC $TEAM Holdings Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 100.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 882,879 shares of the technology company’s stock after purchasing an additional 441,751 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Atlassian were worth $143,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEAM. DNB Asset Management AS raised its holdings in shares of Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after purchasing an additional 2,041,210 shares during the period. Norges Bank acquired a new stake in Atlassian during the second quarter worth about $377,794,000. Vanguard Group Inc. boosted its stake in Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after acquiring an additional 1,049,483 shares during the period. Voyager Global Management LP grew its holdings in shares of Atlassian by 181.8% during the third quarter. Voyager Global Management LP now owns 1,550,000 shares of the technology company’s stock valued at $247,535,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Swedbank AB lifted its holdings in shares of Atlassian by 139.6% in the 3rd quarter. Swedbank AB now owns 1,372,976 shares of the technology company’s stock worth $219,264,000 after purchasing an additional 800,000 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $74.41 on Tuesday. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of -103.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. Atlassian Corporation PLC has a 12 month low of $67.85 and a 12 month high of $242.00. The stock’s 50 day moving average price is $94.82 and its 200 day moving average price is $136.54.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company posted $0.96 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. Equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the transaction, the director owned 275,940 shares of the company’s stock, valued at $26,161,871.40. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Rajeev Bashyam Rajan sold 3,072 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total transaction of $249,907.20. Following the sale, the chief technology officer directly owned 212,916 shares of the company’s stock, valued at approximately $17,320,716.60. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 281,953 shares of company stock valued at $38,201,571. 36.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. KeyCorp cut their target price on Atlassian from $210.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Mizuho reduced their target price on shares of Atlassian from $205.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, March 12th. Cantor Fitzgerald dropped their price target on shares of Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Canaccord Genuity Group set a $185.00 price objective on Atlassian in a research report on Friday, February 6th. Finally, BNP Paribas Exane began coverage on Atlassian in a report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price objective for the company. Twenty-two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.48.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.