Assenagon Asset Management S.A. Has $42.36 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Assenagon Asset Management S.A. increased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 657.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,509 shares of the technology company's stock after buying an additional 207,891 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of Atlassian worth $42,364,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Hollencrest Capital Management raised its position in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company's stock worth $29,000 after purchasing an additional 119 shares during the period. Trust Co. of Vermont raised its position in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock worth $32,000 after purchasing an additional 174 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the first quarter worth $40,000. Crewe Advisors LLC acquired a new stake in shares of Atlassian during the first quarter worth $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company's stock worth $88,000 after purchasing an additional 271 shares during the period. Institutional investors and hedge funds own 93.03% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Baird R W lowered Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 2nd. JMP Securities upgraded Atlassian to a "hold" rating in a research note on Friday, August 2nd. Barclays decreased their price target on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. Canaccord Genuity Group decreased their price target on Atlassian from $260.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, April 26th. Finally, The Goldman Sachs Group upgraded Atlassian from a "neutral" rating to a "buy" rating and increased their target price for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $217.69.

Atlassian Stock Performance

Atlassian stock traded up $7.38 during trading hours on Friday, hitting $154.21. The stock had a trading volume of 2,503,515 shares, compared to its average volume of 2,282,891. The company has a 50-day moving average of $165.79 and a two-hundred day moving average of $184.21. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The company has a market cap of $40.14 billion, a PE ratio of -244.78 and a beta of 0.74. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the firm posted ($0.21) EPS. Atlassian's quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts anticipate that Atlassian Co. will post -0.57 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares of the company's stock, valued at approximately $41,329,441.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 445 shares of the firm's stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $175.90, for a total transaction of $78,275.50. Following the completion of the sale, the chief technology officer now directly owns 130,525 shares of the company's stock, valued at approximately $22,959,347.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the sale, the chief executive officer now directly owns 294,076 shares of the company's stock, valued at $41,329,441.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 257,766 shares of company stock valued at $43,257,726. Corporate insiders own 40.48% of the company's stock.

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.