DekaBank Deutsche Girozentrale Has $3.14 Million Stake in Atlassian Co. (NASDAQ:TEAM)

DekaBank Deutsche Girozentrale grew its holdings in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,909 shares of the technology company’s stock after buying an additional 1,515 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Atlassian were worth $3,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Clear Street Markets LLC acquired a new stake in shares of Atlassian in the third quarter valued at approximately $76,000. PGGM Investments acquired a new stake in shares of Atlassian in the third quarter valued at approximately $1,211,000. Los Angeles Capital Management LLC lifted its position in shares of Atlassian by 0.6% in the third quarter. Los Angeles Capital Management LLC now owns 67,366 shares of the technology company’s stock valued at $14,187,000 after buying an additional 407 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Atlassian by 18.5% in the third quarter. Victory Capital Management Inc. now owns 51,177 shares of the technology company’s stock valued at $10,777,000 after buying an additional 8,005 shares during the last quarter. Finally, Tobam bought a new position in shares of Atlassian during the third quarter worth approximately $95,000. 45.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $196.74, for a total transaction of $1,694,718.36. Following the transaction, the chief executive officer now directly owns 370,402 shares of the company’s stock, valued at approximately $72,872,889.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 442 shares of Atlassian stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $117.07, for a total transaction of $51,744.94. Following the transaction, the chief technology officer now directly owns 114,133 shares of the company’s stock, valued at approximately $13,361,550.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $196.74, for a total value of $1,694,718.36. Following the transaction, the chief executive officer now directly owns 370,402 shares in the company, valued at $72,872,889.48. The disclosure for this sale can be found here. Insiders have sold a total of 266,510 shares of company stock valued at $37,040,915 in the last 90 days. 43.11% of the stock is owned by corporate insiders.

Atlassian Stock Performance

NASDAQ TEAM opened at $157.75 on Monday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 1.25. Atlassian Co. has a twelve month low of $113.86 and a twelve month high of $352.92. The business’s fifty day moving average is $133.64 and its 200 day moving average is $189.59.

Atlassian (NASDAQ:TEAM – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.46. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The company had revenue of $807.39 million for the quarter, compared to the consensus estimate of $806.42 million. During the same quarter last year, the business posted ($0.01) EPS. Atlassian’s revenue for the quarter was up 31.5% on a year-over-year basis. Equities analysts predict that Atlassian Co. will post -0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent research reports. Citigroup lowered their target price on Atlassian from $375.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. The Goldman Sachs Group lowered their target price on Atlassian from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. StockNews.com lowered Atlassian from a “hold” rating to a “sell” rating in a research note on Saturday, January 14th. Jefferies Financial Group increased their target price on Atlassian from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their price objective on Atlassian from $250.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.95.

Atlassian Company Profile

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Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.