Atlassian Co. (NASDAQ:TEAM) Shares Sold by Assenagon Asset Management S.A.

Posted by Defense World Staff on Jul 4th, 2023

Assenagon Asset Management S.A. trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 76.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,175 shares of the technology company’s stock after selling 103,317 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Atlassian were worth $5,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in shares of Atlassian by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,513,417 shares of the technology company’s stock worth $2,510,987,000 after purchasing an additional 477,234 shares during the last quarter. WCM Investment Management LLC grew its position in Atlassian by 61.6% in the 4th quarter. WCM Investment Management LLC now owns 9,503,757 shares of the technology company’s stock valued at $1,222,943,000 after acquiring an additional 3,623,862 shares in the last quarter. Baillie Gifford & Co. grew its position in Atlassian by 40.4% in the 4th quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock valued at $983,528,000 after acquiring an additional 2,199,990 shares in the last quarter. Franklin Resources Inc. acquired a new position in Atlassian in the 4th quarter valued at about $324,141,000. Finally, Brown Advisory Inc. grew its position in Atlassian by 980.1% in the 4th quarter. Brown Advisory Inc. now owns 2,424,085 shares of the technology company’s stock valued at $311,931,000 after acquiring an additional 2,199,645 shares in the last quarter. 53.17% of the stock is owned by institutional investors and hedge funds.

Atlassian Trading Down 0.1 %

Shares of TEAM opened at $167.59 on Tuesday. Atlassian Co. has a fifty-two week low of $113.86 and a fifty-two week high of $300.29. The firm has a 50-day simple moving average of $160.35 and a 200-day simple moving average of $157.65. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67.

Atlassian (NASDAQ:TEAM – Free Report) last released its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The company had revenue of $915.45 million during the quarter, compared to analyst estimates of $898.71 million. Equities analysts forecast that Atlassian Co. will post -0.8 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $156.31, for a total value of $1,346,454.34. Following the sale, the chief executive officer now directly owns 484,656 shares in the company, valued at $75,756,579.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Monday, April 10th. The stock was sold at an average price of $156.31, for a total transaction of $1,346,454.34. Following the sale, the chief executive officer now directly owns 484,656 shares in the company, valued at $75,756,579.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Enrique T. Salem sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the sale, the director now owns 124,162 shares in the company, valued at $16,141,060. The disclosure for this sale can be found here. Insiders have sold a total of 337,163 shares of company stock worth $53,334,229 over the last three months. 43.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TEAM shares. BMO Capital Markets dropped their target price on Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. Robert W. Baird dropped their target price on Atlassian from $190.00 to $175.00 in a research report on Friday, May 5th. StockNews.com began coverage on shares of Atlassian in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Atlassian in a report on Monday, April 17th. Finally, Mizuho reduced their price objective on shares of Atlassian from $235.00 to $215.00 in a report on Friday, May 5th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.85.

Atlassian Company Profile

(Free Report)

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.