Deutsche Bank AG Buys 39,658 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Key Points

• Deutsche Bank AG increased its stake in Atlassian Corporation PLC by 5.8%, acquiring an additional 39,658 shares during the first quarter, bringing its total holdings to 717,861 shares valued at approximately $152.3 million.
• Institutional investors own 94.45% of Atlassian's stock, indicating strong interest from major financial players in the company's performance and potential.
• Atlassian reported earnings of $0.98 per share for the last quarter, exceeding estimates, while its revenue rose by 22.3% year-over-year to $1.38 billion, highlighting its growth trajectory.

Deutsche Bank AG boosted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 5.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 717,861 shares of the technology company's stock after purchasing an additional 39,658 shares during the period. Deutsche Bank AG owned about 0.27% of Atlassian worth $152,337,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Atlassian by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 670,968 shares of the technology company's stock worth $142,386,000 after acquiring an additional 49,171 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Atlassian in the first quarter worth about $3,451,000. AXS Investments LLC raised its stake in shares of Atlassian by 25.8% during the first quarter. AXS Investments LLC now owns 6,579 shares of the technology company's stock worth $1,396,000 after buying an additional 1,350 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Atlassian by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after buying an additional 580,583 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of Atlassian by 40.2% during the first quarter. iA Global Asset Management Inc. now owns 57,481 shares of the technology company's stock worth $12,198,000 after buying an additional 16,482 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Down 0.8%

Shares of Atlassian stock traded down $1.28 on Tuesday, hitting $158.00. The company had a trading volume of 5,757,268 shares, compared to its average volume of 2,393,005. The firm has a market capitalization of $41.48 billion, a P/E ratio of -159.59 and a beta of 0.96. Atlassian Corporation PLC has a twelve month low of $139.23 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a 50-day moving average of $198.47 and a 200-day moving average of $224.83.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 15.19%. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm's revenue was up 22.3% on a year-over-year basis. Research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $214.92, for a total transaction of $1,708,184.16. Following the sale, the director directly owned 103,324 shares of the company's stock, valued at approximately $22,206,394.08. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68. Following the sale, the chief executive officer directly owned 111,272 shares in the company, valued at $24,636,733.52. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 529,493 shares of company stock valued at $107,199,260 in the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TEAM shares. Oppenheimer dropped their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, July 21st. Cantor Fitzgerald dropped their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday. Wells Fargo & Company dropped their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Capital One Financial downgraded shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target for the company. in a research note on Wednesday, July 16th. Finally, Morgan Stanley decreased their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $259.76.

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.