Sciencast Management LP increased its holdings in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 54.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,150 shares of the technology company’s stock after acquiring an additional 2,513 shares during the quarter. Sciencast Management LP’s holdings in Atlassian were worth $933,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of TEAM. Price T Rowe Associates Inc. MD boosted its position in Atlassian by 22.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 11,208,294 shares of the technology company’s stock worth $1,466,493,000 after acquiring an additional 2,059,713 shares during the last quarter. Morgan Stanley boosted its position in Atlassian by 168.3% during the second quarter. Morgan Stanley now owns 2,139,661 shares of the technology company’s stock worth $279,953,000 after acquiring an additional 1,342,168 shares during the last quarter. Invesco Ltd. boosted its position in Atlassian by 435.8% during the second quarter. Invesco Ltd. now owns 1,242,890 shares of the technology company’s stock worth $162,620,000 after acquiring an additional 1,010,904 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Atlassian by 499.2% during the second quarter. Nuveen Asset Management LLC now owns 372,954 shares of the technology company’s stock worth $48,797,000 after acquiring an additional 310,717 shares during the last quarter. Finally, Vista Equity Partners Management LLC boosted its position in Atlassian by 132.4% during the third quarter. Vista Equity Partners Management LLC now owns 183,916 shares of the technology company’s stock worth $23,070,000 after acquiring an additional 104,784 shares during the last quarter. Hedge funds and other institutional investors own 87.04% of the company’s stock.
A number of equities analysts recently weighed in on TEAM shares. Zacks Investment Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 24th. ValuEngine lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cleveland Research started coverage on shares of Atlassian in a research report on Friday, December 20th. They set a “buy” rating and a $132.00 price target on the stock. Mizuho set a $152.00 price target on shares of Atlassian and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Cowen restated a “buy” rating on shares of Atlassian in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Atlassian has an average rating of “Buy” and a consensus price target of $142.65.
Shares of TEAM stock opened at $134.72 on Friday. The firm’s 50-day moving average is $124.27 and its two-hundred day moving average is $129.27. Atlassian Co. PLC has a 12 month low of $87.18 and a 12 month high of $149.80. The company has a market capitalization of $16.43 billion, a PE ratio of -792.47, a price-to-earnings-growth ratio of 130.92 and a beta of 1.24.
Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 17th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. The company had revenue of $363.40 million for the quarter, compared to the consensus estimate of $351.79 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Atlassian’s quarterly revenue was up 36.0% compared to the same quarter last year. As a group, analysts anticipate that Atlassian Co. PLC will post 0.05 earnings per share for the current fiscal year.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
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