Wedbush Securities Inc. grew its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 18.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,806 shares of the technology company’s stock after acquiring an additional 1,216 shares during the period. Wedbush Securities Inc.’s holdings in Atlassian were worth $750,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of TEAM. FNY Investment Advisers LLC bought a new position in Atlassian in the third quarter worth approximately $120,000. GWM Advisors LLC bought a new position in Atlassian in the third quarter worth approximately $214,000. GAM Holding AG bought a new position in Atlassian in the third quarter worth approximately $217,000. Oppenheimer & Co. Inc. bought a new position in Atlassian in the second quarter worth approximately $218,000. Finally, Prudential Financial Inc. bought a new position in Atlassian in the third quarter worth approximately $221,000. 89.02% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on TEAM. Jefferies Financial Group increased their price target on shares of Atlassian to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, September 4th. Needham & Company LLC began coverage on shares of Atlassian in a research report on Monday, October 22nd. They issued a “hold” rating on the stock. They noted that the move was a valuation call. BidaskClub downgraded shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 5th. BTIG Research upgraded shares of Atlassian from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, Cowen increased their price target on shares of Atlassian from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, September 13th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $82.00.
Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 18th. The technology company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $267.30 million during the quarter, compared to analysts’ expectations of $259.67 million. Atlassian had a negative net margin of 36.71% and a negative return on equity of 0.75%. Atlassian’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period last year, the company posted $0.12 earnings per share. As a group, research analysts predict that Atlassian Co. PLC will post 0.09 earnings per share for the current fiscal year.
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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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