GSA Capital Partners LLP lowered its holdings in Atlassian Co. PLC (NASDAQ:TEAM) by 43.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,844 shares of the technology company’s stock after selling 13,175 shares during the period. GSA Capital Partners LLP’s holdings in Atlassian were worth $1,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TEAM. Swedbank purchased a new position in Atlassian in the first quarter valued at about $114,580,000. CI Global Investments Inc. acquired a new stake in Atlassian during the first quarter valued at approximately $54,259,000. Artisan Partners Limited Partnership raised its stake in Atlassian by 9.4% during the first quarter. Artisan Partners Limited Partnership now owns 8,059,157 shares of the technology company’s stock valued at $434,550,000 after buying an additional 689,854 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Atlassian by 39.9% during the second quarter. Bank of New York Mellon Corp now owns 1,655,435 shares of the technology company’s stock valued at $103,497,000 after buying an additional 471,860 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Atlassian by 152.7% during the second quarter. Sei Investments Co. now owns 655,772 shares of the technology company’s stock valued at $40,999,000 after buying an additional 396,311 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Atlassian stock opened at $87.01 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.02 and a current ratio of 3.95. The company has a market cap of $9.30 billion, a PE ratio of -1,243.00, a P/E/G ratio of 90.13 and a beta of 2.61. Atlassian Co. PLC has a twelve month low of $33.16 and a twelve month high of $92.26.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, July 26th. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $243.80 million for the quarter, compared to analysts’ expectations of $233.42 million. Atlassian had a negative return on equity of 2.30% and a negative net margin of 13.65%. The business’s quarterly revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. research analysts expect that Atlassian Co. PLC will post 0.07 EPS for the current year.

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on Atlassian from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Jefferies Financial Group upped their price objective on Atlassian to $70.00 and gave the company a “hold” rating in a research note on Friday, July 27th. DA Davidson upped their price objective on Atlassian from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity restated a “buy” rating and set a $85.00 price objective (up previously from $65.00) on shares of Atlassian in a research note on Friday, July 27th. Finally, BMO Capital Markets upped their price objective on Atlassian from $64.00 to $82.00 and gave the company a “market perform” rating in a research note on Friday, July 27th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $74.00.

About Atlassian

Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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