247,540 Atlassian Corporation PLC $TEAM Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 111.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 469,100 shares of the technology company's stock after buying an additional 247,540 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Atlassian worth $84,105,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA boosted its stake in shares of Atlassian by 27.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company's stock valued at $343,344,000 after buying an additional 1,080,561 shares during the period. Carmignac Gestion grew its stake in shares of Atlassian by 115.8% in the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock valued at $177,707,000 after buying an additional 1,397,402 shares in the last quarter. First Trust Advisors LP raised its position in Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock valued at $160,377,000 after acquiring an additional 766,922 shares in the last quarter. KBC Group NV lifted its stake in Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after acquiring an additional 1,359,624 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its stake in Atlassian by 53.0% in the third quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company's stock valued at $82,749,000 after acquiring an additional 159,884 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $207.82 on Friday. The business has a 50 day moving average price of $184.80 and a 200 day moving average price of $120.12. The company has a market cap of $52.74 billion, a price-to-earnings ratio of 217.12, a PEG ratio of 17.06 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $223.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company's quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. Research analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research report on Thursday. Citigroup raised their price target on shares of Atlassian from $170.00 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 1st. BTIG Research lifted their price objective on shares of Atlassian from $180.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. KeyCorp lifted their price objective on shares of Atlassian from $115.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, September 13th. Twenty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $196.74.

Insider Activity at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. The trade was a 3.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of Atlassian stock in a transaction on Monday, October 12th. The shares were sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the transaction, the chief accounting officer owned 55,531 shares of the company's stock, valued at approximately $11,661,510. The trade was a 0.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,475 shares of company stock valued at $3,822,643 in the last three months. Corporate insiders own 36.66% of the company's stock.

Atlassian Company Profile

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.

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