Los Angeles Capital Management LLC reduced its stake in Atlassian Co. Plc (NASDAQ:TEAM – Get Rating) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,077 shares of the technology company’s stock after selling 743 shares during the period. Los Angeles Capital Management LLC’s holdings in Atlassian were worth $17,359,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TEAM. Commonwealth Equity Services LLC boosted its stake in Atlassian by 17.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,864 shares of the technology company’s stock valued at $4,142,000 after acquiring an additional 1,607 shares during the period. Yousif Capital Management LLC bought a new position in Atlassian in the 4th quarter worth approximately $758,000. CWM LLC acquired a new stake in Atlassian in the 4th quarter valued at approximately $35,000. Robeco Institutional Asset Management B.V. raised its stake in Atlassian by 79.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 37,742 shares of the technology company’s stock valued at $14,390,000 after acquiring an additional 16,701 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in Atlassian by 245.2% during the 4th quarter. Qube Research & Technologies Ltd now owns 48,484 shares of the technology company’s stock worth $18,486,000 after acquiring an additional 34,440 shares during the period. 91.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on TEAM shares. Piper Sandler raised their price target on Atlassian from $249.00 to $283.00 and gave the company an “overweight” rating in a report on Friday. Sanford C. Bernstein started coverage on Atlassian in a report on Tuesday, July 19th. They set an “outperform” rating and a $257.00 price target on the stock. Cowen lowered their price target on Atlassian from $285.00 to $245.00 in a report on Friday, July 22nd. Mizuho lowered their price target on Atlassian from $500.00 to $360.00 in a report on Monday, May 16th. Finally, Canaccord Genuity Group lowered their price target on Atlassian from $375.00 to $300.00 in a report on Friday, April 29th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.16.
Atlassian Trading Up 16.6 %
Atlassian (NASDAQ:TEAM – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Atlassian had a negative return on equity of 56.13% and a negative net margin of 27.73%. The business had revenue of $759.80 million during the quarter, compared to analyst estimates of $724.28 million. During the same quarter last year, the company posted ($0.06) EPS. Atlassian’s revenue for the quarter was up 35.8% on a year-over-year basis. Sell-side analysts forecast that Atlassian Co. Plc will post -0.36 earnings per share for the current year.
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.
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