Artisan Partners Limited Partnership Boosts Stake in Atlassian Co. PLC (TEAM)
Artisan Partners Limited Partnership raised its stake in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,543,086 shares of the technology company’s stock after purchasing an additional 1,668,292 shares during the quarter. Artisan Partners Limited Partnership owned 7.73% of Atlassian worth $265,139,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of TEAM. Thompson Davis & CO. Inc. increased its stake in Atlassian by 431.8% in the third quarter. Thompson Davis & CO. Inc. now owns 2,925 shares of the technology company’s stock valued at $103,000 after acquiring an additional 2,375 shares during the period. Tower Research Capital LLC TRC increased its stake in Atlassian by 895.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,848 shares during the period. Russell Investments Group Ltd. increased its stake in Atlassian by 0.8% in the second quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock valued at $196,000 after acquiring an additional 46 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Atlassian in the third quarter valued at about $232,000. Finally, Harbour Capital Advisors LLC bought a new stake in Atlassian in the third quarter valued at about $260,000. 80.99% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on TEAM. Robert W. Baird set a $43.00 price objective on shares of Atlassian and gave the stock a “buy” rating in a research note on Friday, October 6th. Oppenheimer upped their price objective on shares of Atlassian to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $44.00 price objective on shares of Atlassian in a research note on Friday, September 15th. Summit Redstone reaffirmed a “buy” rating on shares of Atlassian in a research note on Thursday, October 19th. Finally, Cowen reaffirmed an “outperform” rating and set a $55.00 price objective (up from $47.00) on shares of Atlassian in a research note on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $49.20.
Shares of Atlassian Co. PLC (NASDAQ:TEAM) traded up $0.10 during trading on Friday, reaching $46.69. 1,047,700 shares of the company’s stock traded hands, compared to its average volume of 750,044. Atlassian Co. PLC has a 1 year low of $23.80 and a 1 year high of $53.45.
Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. Atlassian had a negative net margin of 7.96% and a negative return on equity of 2.11%. The company had revenue of $193.80 million for the quarter, compared to analyst estimates of $185.78 million. During the same period in the prior year, the business earned $0.10 earnings per share. Atlassian’s quarterly revenue was up 41.7% on a year-over-year basis. sell-side analysts predict that Atlassian Co. PLC will post -0.13 EPS for the current fiscal year.
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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