Atlassian Corporation PLC (NASDAQ:TEAM) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 6,375,478 shares, a growth of 28.0% from the October 13th total of 4,982,146 shares. Approximately 7.0% of the shares of the stock are sold short. Based on an average trading volume of 1,795,299 shares, the short-interest ratio is currently 3.6 days.
Large investors have recently modified their holdings of the stock. Voya Investment Management LLC boosted its holdings in Atlassian Corporation PLC by 166.3% during the second quarter. Voya Investment Management LLC now owns 28,189 shares of the technology company’s stock worth $992,000 after buying an additional 17,604 shares in the last quarter. Royce & Associates LP bought a new stake in Atlassian Corporation PLC during the second quarter worth approximately $2,885,000. Wells Fargo & Company MN boosted its holdings in Atlassian Corporation PLC by 3,340.5% during the second quarter. Wells Fargo & Company MN now owns 365,104 shares of the technology company’s stock worth $12,844,000 after buying an additional 354,492 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Atlassian Corporation PLC by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 55,951 shares of the technology company’s stock worth $1,676,000 after buying an additional 480 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Atlassian Corporation PLC by 189.3% during the second quarter. Rhumbline Advisers now owns 78,226 shares of the technology company’s stock worth $2,752,000 after buying an additional 51,182 shares in the last quarter. Hedge funds and other institutional investors own 74.43% of the company’s stock.
Several research analysts have recently issued reports on TEAM shares. Morgan Stanley upgraded shares of Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $45.00 in a report on Tuesday, July 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $42.00 price objective (up from $40.00) on shares of Atlassian Corporation PLC in a report on Wednesday, July 26th. Oppenheimer Holdings, Inc. increased their price objective on shares of Atlassian Corporation PLC to $50.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Robert W. Baird reiterated a “buy” rating and issued a $43.00 price objective on shares of Atlassian Corporation PLC in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded shares of Atlassian Corporation PLC from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $49.20.
Shares of Atlassian Corporation PLC (TEAM) opened at $52.27 on Tuesday. Atlassian Corporation PLC has a 1-year low of $23.80 and a 1-year high of $53.21.
Atlassian Corporation PLC (NASDAQ:TEAM) last issued its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. The firm had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $185.78 million. Atlassian Corporation PLC had a negative net margin of 7.96% and a negative return on equity of 2.11%. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. research analysts anticipate that Atlassian Corporation PLC will post -0.13 earnings per share for the current year.
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Atlassian Corporation PLC Company Profile
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.
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