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

Deutsche Bank AG trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 6.4% in the fourth quarter, Holdings Channel reports. The firm owned 678,203 shares of the technology company’s stock after selling 46,720 shares during the period. Deutsche Bank AG’s holdings in Atlassian were worth $165,061,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TEAM. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% during the third 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 boosted its position in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after buying an additional 54 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Atlassian by 20.1% during the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock worth $7,458,000 after acquiring an additional 5,088 shares during the last quarter. Park National Corp OH acquired a new position in shares of Atlassian in the fourth quarter worth about $206,000. Finally, Fulton Bank N.A. purchased a new position in Atlassian in the fourth quarter valued at about $447,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of TEAM stock opened at $207.25 on Friday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $54.30 billion, a price-to-earnings ratio of -154.66 and a beta of 1.06. The business has a 50 day simple moving average of $215.36 and a 200 day simple moving average of $245.61.

Atlassian (NASDAQ:TEAM) last released its quarterly 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. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the transaction, the chief executive officer now owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,734 shares of company stock valued at $62,098,082. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. KeyCorp reduced their price target on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company cut their price objective on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

Atlassian 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.