Atlassian Co. (NASDAQ:TEAM) Shares Acquired by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Atlassian Co. (NASDAQ:TEAM) by 29,445.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,000 shares of the technology company’s stock after purchasing an additional 64,780 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Atlassian were worth $15,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the fourth quarter valued at about $27,000. Colonial Trust Co SC grew its position in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian during the fourth quarter worth $39,000. Finally, Avion Wealth boosted its stake in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the completion of the transaction, the chief executive officer now directly owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the transaction, the president now directly owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 252,786 shares of company stock valued at $60,435,440. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank boosted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Oppenheimer increased their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Barclays dropped their price objective on Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a report on Monday. Jefferies Financial Group reduced their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.29.

Atlassian Stock Up 1.2 %

Atlassian stock opened at $208.23 on Friday. The firm has a market capitalization of $54.56 billion, a P/E ratio of -155.39 and a beta of 1.06. The company has a 50-day simple moving average of $216.68 and a 200-day simple moving average of $245.52. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Atlassian’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

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.