Wells Fargo & Company MN cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 96.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,612 shares of the technology company’s stock after selling 271,658 shares during the period. Wells Fargo & Company MN’s holdings in Atlassian Corporation PLC were worth $318,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Atlassian Corporation PLC during the fourth quarter valued at $499,000. Highbridge Capital Management LLC acquired a new stake in shares of Atlassian Corporation PLC during the fourth quarter valued at $513,000. Teachers Advisors LLC increased its stake in shares of Atlassian Corporation PLC by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 24,270 shares of the technology company’s stock valued at $584,000 after buying an additional 2,755 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in shares of Atlassian Corporation PLC by 18.9% in the first quarter. Essex Investment Management Co. LLC now owns 24,587 shares of the technology company’s stock valued at $736,000 after buying an additional 3,911 shares in the last quarter. Finally, David R. Rahn & Associates Inc. acquired a new stake in shares of Atlassian Corporation PLC during the first quarter valued at $908,000. 81.62% of the stock is owned by institutional investors and hedge funds.

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) opened at 35.65 on Tuesday. The firm has a 50-day moving average price of $35.76 and a 200 day moving average price of $30.69. The firm’s market capitalization is $8.04 billion. Atlassian Corporation PLC has a one year low of $23.80 and a one year high of $37.90.

Atlassian Corporation PLC (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. The firm had revenue of $159.90 million during the quarter, compared to the consensus estimate of $156.64 million. Atlassian Corporation PLC had a negative return on equity of 1.74% and a negative net margin of 4.62%. The firm’s revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. Equities analysts forecast that Atlassian Corporation PLC will post $0.33 earnings per share for the current fiscal year.

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Several brokerages have recently issued reports on TEAM. BTIG Research restated a “neutral” rating on shares of Atlassian Corporation PLC in a research note on Monday, April 24th. Jefferies Group LLC restated a “buy” rating and issued a $41.00 price objective (up from $39.00) on shares of Atlassian Corporation PLC in a research note on Saturday, April 29th. BMO Capital Markets restated a “hold” rating and issued a $29.00 price objective on shares of Atlassian Corporation PLC in a research note on Friday, April 21st. Raymond James Financial, Inc. restated a “market perform” rating on shares of Atlassian Corporation PLC in a research note on Thursday, April 20th. Finally, William Blair restated an “outperform” rating on shares of Atlassian Corporation PLC in a research note on Wednesday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $36.09.

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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Institutional Ownership by Quarter for Atlassian Corporation PLC (NASDAQ:TEAM)

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