Assenagon Asset Management S.A. Boosts Holdings in Atlassian Corporation PLC $TEAM

Assenagon Asset Management S.A. lifted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 100.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 882,879 shares of the technology company’s stock after acquiring an additional 441,751 shares during the period. Assenagon Asset Management S.A. owned 0.34% of Atlassian worth $143,150,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TEAM. Physician Wealth Advisors Inc. grew its holdings in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Atlantic Union Bankshares Corp raised its stake in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after purchasing an additional 199 shares during the period. Board of the Pension Protection Fund purchased a new position in Atlassian during the fourth quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian in the 3rd quarter valued at $57,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 3,072 shares of the stock in a transaction 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 transaction, the chief technology officer directly owned 212,916 shares in the company, valued at $17,320,716.60. This represents a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Brian Duffy sold 1,222 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70. Following the transaction, the executive directly owned 124,332 shares of the company’s stock, valued at approximately $10,114,408.20. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 281,953 shares of company stock valued at $38,201,571. 36.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Monday. UBS Group reiterated a “neutral” rating and issued a $105.00 target price on shares of Atlassian in a report on Friday, February 6th. Morgan Stanley dropped their price target on Atlassian from $320.00 to $290.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Cantor Fitzgerald cut their price objective on Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Finally, KeyCorp reduced their price objective on Atlassian from $210.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Twenty-two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $180.48.

Atlassian Trading Up 0.9%

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. Atlassian Corporation PLC has a one year low of $67.85 and a one year high of $242.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50-day simple moving average is $94.82 and its 200 day simple moving average is $136.54.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $0.96 EPS. Atlassian’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

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.