Assenagon Asset Management S.A. Lowers Position in Atlassian Co. (NASDAQ:TEAM)

Assenagon Asset Management S.A. lowered its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,249 shares of the technology company's stock after selling 15,081 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Atlassian worth $39,245,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TEAM. GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares during the period. Reston Wealth Management LLC bought a new position in Atlassian in the third quarter worth approximately $48,000. Quarry LP grew its stake in Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company's stock valued at $66,000 after acquiring an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEAM. Jefferies Financial Group increased their target price on Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Canaccord Genuity Group raised their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Oppenheimer boosted their target price on shares of Atlassian from $270.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Morgan Stanley upped their target price on shares of Atlassian from $259.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Citigroup lifted their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $272.00.

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now directly owns 309,972 shares in the company, valued at approximately $67,905,566.04. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $1,028,052.00. Following the sale, the president now directly owns 224,436 shares in the company, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 280,136 shares of company stock valued at $67,814,587 over the last quarter. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of TEAM traded down $1.89 during mid-day trading on Friday, hitting $252.36. The stock had a trading volume of 1,192,393 shares, compared to its average volume of 1,794,803. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $256.07 and a 200-day moving average price of $201.44. The firm has a market cap of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities research analysts expect that Atlassian Co. will post -0.55 EPS for the current 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.