Deutsche Bank AG Cuts Position in Atlassian Co. (NASDAQ:TEAM)

Deutsche Bank AG trimmed its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 678,203 shares of the technology company's stock after selling 46,720 shares during the period. Deutsche Bank AG owned about 0.26% of Atlassian worth $165,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after purchasing an additional 54 shares during the period. Nordea Investment Management AB raised its stake in shares of Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock worth $7,458,000 after purchasing an additional 5,088 shares during the last quarter. Park National Corp OH purchased a new stake in Atlassian in the fourth quarter valued at approximately $206,000. Finally, Fulton Bank N.A. purchased a new position in Atlassian during the 4th quarter worth approximately $447,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52. Following the completion of the sale, the chief executive officer now directly owns 254,336 shares of the company's stock, valued at $80,304,048.64. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 approximately $16,272,475.36. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 260,734 shares of company stock valued at $61,304,554. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Trading Up 2.6%

Shares of TEAM stock traded up $5.77 on Tuesday, hitting $229.52. 1,642,776 shares of the stock traded hands, compared to its average volume of 2,091,196. 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 twelve month low of $135.29 and a twelve month high of $326.00. The firm's 50-day moving average price is $214.30 and its two-hundred day moving average price is $246.65. The stock has a market capitalization of $60.13 billion, a PE ratio of -171.28 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEAM shares. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Canaccord Genuity Group dropped their price objective 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. Barclays cut their price objective on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Morgan Stanley cut their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

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.