Atlassian Corporation PLC (TEAM) Position Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 96.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,612 shares of the technology company’s stock after selling 271,658 shares during the period. Wells Fargo & Company MN’s holdings in Atlassian Corporation PLC were worth $318,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Atlassian Corporation PLC during the fourth quarter valued at $499,000. State Street Corp boosted its stake in Atlassian Corporation PLC by 56.9% in the fourth quarter. State Street Corp now owns 561,142 shares of the technology company’s stock valued at $13,512,000 after buying an additional 203,557 shares during the period. Norges Bank bought a new stake in Atlassian Corporation PLC during the fourth quarter valued at $10,176,000. Quadrature Capital Ltd bought a new stake in Atlassian Corporation PLC during the fourth quarter valued at $1,360,000. Finally, Teachers Advisors LLC boosted its stake in Atlassian Corporation PLC by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 24,270 shares of the technology company’s stock valued at $584,000 after buying an additional 2,755 shares during the period. Institutional investors and hedge funds own 81.62% of the company’s stock.

Atlassian Corporation PLC (TEAM) opened at 35.65 on Tuesday. The stock’s market cap is $8.04 billion. Atlassian Corporation PLC has a 52-week low of $23.80 and a 52-week high of $37.90. The stock has a 50 day moving average price of $35.76 and a 200 day moving average price of $30.69.

Atlassian Corporation PLC (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 27th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Atlassian Corporation PLC had a negative return on equity of 1.74% and a negative net margin of 4.62%. The company had revenue of $159.90 million for the quarter, compared to the consensus estimate of $156.64 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. Analysts expect that Atlassian Corporation PLC will post $0.33 EPS for the current fiscal year.

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TEAM has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Atlassian Corporation PLC in a report on Wednesday, March 22nd. Guggenheim initiated coverage on shares of Atlassian Corporation PLC in a report on Wednesday, April 12th. They set a “neutral” rating on the stock. They noted that the move was a valuation call. Raymond James Financial, Inc. restated a “market perform” rating on shares of Atlassian Corporation PLC in a report on Thursday, April 20th. BMO Capital Markets restated a “hold” rating and set a $29.00 target price on shares of Atlassian Corporation PLC in a report on Friday, April 21st. Finally, BTIG Research restated a “neutral” rating on shares of Atlassian Corporation PLC in a report on Monday, April 24th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.09.

About Atlassian Corporation PLC

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

Institutional Ownership by Quarter for Atlassian Corporation PLC (NASDAQ:TEAM)

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