Atlassian Corporation PLC (NASDAQ:TEAM) traded up 8.2% on Thursday . The stock traded as high as $36.62 and last traded at $36.60. 1,127,702 shares were traded during trading, an increase of 103% from the average session volume of 555,298 shares. The stock had previously closed at $33.82.

Several equities research analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 target price on shares of Atlassian Corporation PLC in a research note on Thursday. BTIG Research reiterated a “neutral” rating on shares of Atlassian Corporation PLC in a report on Tuesday, August 15th. ValuEngine upgraded shares of Atlassian Corporation PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company reiterated a “buy” rating and set a $43.00 price target on shares of Atlassian Corporation PLC in a report on Friday, July 28th. Finally, Zacks Investment Research cut shares of Atlassian Corporation PLC from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.10.

The company has a 50-day moving average of $35.66 and a 200-day moving average of $33.95. The stock’s market capitalization is $8.26 billion.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in shares of Atlassian Corporation PLC by 6.8% during the first quarter. Baillie Gifford & Co. now owns 10,793,259 shares of the technology company’s stock valued at $323,259,000 after purchasing an additional 682,668 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Atlassian Corporation PLC during the second quarter valued at approximately $251,088,000. Janus Capital Management LLC raised its stake in shares of Atlassian Corporation PLC by 2.8% during the first quarter. Janus Capital Management LLC now owns 7,110,873 shares of the technology company’s stock valued at $212,971,000 after purchasing an additional 191,710 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Atlassian Corporation PLC by 16.8% during the first quarter. Artisan Partners Limited Partnership now owns 6,017,450 shares of the technology company’s stock valued at $180,223,000 after purchasing an additional 866,132 shares during the period. Finally, FMR LLC raised its stake in shares of Atlassian Corporation PLC by 148.8% during the second quarter. FMR LLC now owns 5,448,713 shares of the technology company’s stock valued at $191,686,000 after purchasing an additional 3,258,877 shares during the period. Institutional investors own 78.57% of the company’s stock.

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About Atlassian Corporation PLC

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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