Atlassian Corporation PLC $TEAM Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 65.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 302,327 shares of the technology company’s stock after selling 580,552 shares during the period. Assenagon Asset Management S.A.’s holdings in Atlassian were worth $20,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Atlassian by 291.4% in the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after acquiring an additional 5,769,788 shares during the last quarter. DNB Asset Management AS raised its position in shares of Atlassian by 266.6% during the 3rd 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 position in Atlassian during the 4th quarter valued at about $323,526,000. Morgan Stanley raised its stake in shares of Atlassian by 52.4% during the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Finally, Carmignac Gestion increased its position in shares of Atlassian by 6,602.0% during the 4th quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock valued at $195,601,000 after purchasing an additional 1,188,368 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 20,041 shares of company stock valued at $1,801,069 over the last three months. 36.66% of the stock is currently owned by insiders.

Atlassian Trading Up 5.4%

NASDAQ TEAM opened at $78.74 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The business’s fifty day moving average is $85.24 and its 200-day moving average is $99.72. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of -94.87, a PEG ratio of 4.23 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Equities research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of several research analyst reports. Wall Street Zen downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. BNP Paribas Exane began coverage on Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target on the stock. TD Cowen increased their price objective on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. Finally, Mizuho decreased their price objective on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.26.

Atlassian 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.