Janus Henderson Group PLC Trims Holdings in Atlassian Co. PLC (TEAM)
Janus Henderson Group PLC decreased its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,409,163 shares of the technology company’s stock after selling 1,662,124 shares during the quarter. Janus Henderson Group PLC owned approximately 0.05% of Atlassian worth $520,037,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of TEAM. AXA raised its stake in Atlassian by 14.0% during the 3rd quarter. AXA now owns 183,547 shares of the technology company’s stock worth $17,646,000 after buying an additional 22,555 shares during the period. Alliancebernstein L.P. raised its stake in Atlassian by 11.5% during the 3rd quarter. Alliancebernstein L.P. now owns 50,012 shares of the technology company’s stock worth $4,808,000 after buying an additional 5,150 shares during the period. Sei Investments Co. raised its stake in Atlassian by 2.1% during the 3rd quarter. Sei Investments Co. now owns 669,584 shares of the technology company’s stock worth $64,374,000 after buying an additional 13,812 shares during the period. Piedmont Investment Advisors Inc. acquired a new stake in Atlassian during the 3rd quarter worth $640,000. Finally, FNY Investment Advisers LLC acquired a new stake in Atlassian during the 3rd quarter worth $120,000. 89.43% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on TEAM shares. Morgan Stanley downgraded Atlassian from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $75.00 to $94.00 in a research note on Thursday, October 4th. They noted that the move was a valuation call. Zacks Investment Research raised Atlassian from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Saturday, September 8th. Summit Insights cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday, September 7th. DA Davidson increased their target price on Atlassian from $88.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Finally, Needham & Company LLC started coverage on Atlassian in a report on Monday, October 22nd. They set a “hold” rating for the company. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.00.
Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 18th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $267.30 million during the quarter, compared to analysts’ expectations of $259.67 million. Atlassian had a negative return on equity of 0.75% and a negative net margin of 36.71%. The company’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, sell-side analysts forecast that Atlassian Co. PLC will post 0.09 earnings per share for the current 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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