DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Increases Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 29,445.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the technology company's stock after acquiring 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 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the 4th quarter valued at $27,000. Colonial Trust Co SC raised its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the 4th quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian during the 4th quarter worth $39,000. Finally, Avion Wealth raised its holdings in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of TEAM stock traded up $5.77 during trading hours on Tuesday, reaching $229.52. The company had a trading volume of 1,642,776 shares, compared to its average volume of 2,087,860. The firm has a market cap of $60.13 billion, a PE ratio of -171.28 and a beta of 1.06. 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 Co. has a one year low of $135.29 and a one year high of $326.00. The business has a fifty day moving average price of $214.30 and a 200-day moving average price of $246.65.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion during 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%. The company's revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Raymond James reissued an "outperform" rating and set a $300.00 target price (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Citigroup increased their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Canaccord Genuity Group reduced their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Five investment 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 stock. According to MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $285.29.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52. Following the completion of the transaction, the chief executive officer now directly owns 254,336 shares of the company's stock, valued at approximately $80,304,048.64. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 568 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares of the company's stock, valued at $16,272,475.36. This represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,786 shares of company stock valued at $59,536,362 over the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Company Profile

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.