Flagship Harbor Advisors LLC boosted its stake in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,060 shares of the technology company’s stock after purchasing an additional 440 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Atlassian were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Virtu Financial LLC lifted its holdings in shares of Atlassian by 19.7% during the first quarter. Virtu Financial LLC now owns 4,892 shares of the technology company’s stock worth $550,000 after purchasing an additional 804 shares during the period. Malaga Cove Capital LLC raised its position in Atlassian by 1.5% during the first quarter. Malaga Cove Capital LLC now owns 6,471 shares of the technology company’s stock valued at $727,000 after acquiring an additional 93 shares in the last quarter. Grassi Investment Management purchased a new position in Atlassian during the first quarter valued at approximately $225,000. Geode Capital Management LLC raised its position in Atlassian by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 300,255 shares of the technology company’s stock valued at $26,716,000 after acquiring an additional 22,604 shares in the last quarter. Finally, Norges Bank purchased a new position in Atlassian during the fourth quarter valued at approximately $79,863,000. 91.21% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. Mizuho lifted their price target on Atlassian from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Robert W. Baird lifted their price target on Atlassian from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Zacks Investment Research cut Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Canaccord Genuity lifted their price target on Atlassian from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $114.71.
Atlassian stock opened at $101.94 on Friday. The company has a market capitalization of $12.02 billion, a PE ratio of -1,456.29, a price-to-earnings-growth ratio of 109.39 and a beta of 1.85. Atlassian Co. PLC has a 12 month low of $54.54 and a 12 month high of $117.06. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.44 and a quick ratio of 3.44.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Wednesday, April 17th. The technology company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.26). The business had revenue of $309.30 million during the quarter, compared to analysts’ expectations of $304.68 million. Atlassian had a negative net margin of 22.96% and a positive return on equity of 3.01%. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, equities analysts predict that Atlassian Co. PLC will post 0.08 EPS for the current fiscal year.
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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