Commerce Bank trimmed its position in Atlassian Co. Plc (NASDAQ:TEAM) by 54.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,712 shares of the technology company’s stock after selling 2,053 shares during the period. Commerce Bank’s holdings in Atlassian were worth $670,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of TEAM. WCM Investment Management LLC bought a new stake in Atlassian in the 3rd quarter valued at about $1,496,980,000. Price T Rowe Associates Inc. MD increased its holdings in Atlassian by 17.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,713,335 shares of the technology company’s stock worth $4,036,127,000 after purchasing an additional 2,333,744 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Atlassian by 139.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,202,683 shares of the technology company’s stock worth $308,921,000 after purchasing an additional 700,132 shares in the last quarter. Jennison Associates LLC increased its holdings in Atlassian by 10.1% during the 2nd quarter. Jennison Associates LLC now owns 6,894,373 shares of the technology company’s stock worth $1,770,889,000 after purchasing an additional 630,157 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Atlassian during the 2nd quarter worth approximately $104,536,000. 85.38% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on TEAM shares. boosted their price objective on Atlassian from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, October 29th. Piper Sandler boosted their price objective on Atlassian from $308.00 to $472.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. JMP Securities restated a “hold” rating on shares of Atlassian in a research note on Friday, October 29th. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, October 29th. Finally, BMO Capital Markets boosted their target price on Atlassian from $345.00 to $515.00 and gave the stock a “market perform” rating in a research note on Friday, October 29th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $447.17.
Atlassian (NASDAQ:TEAM) last issued its earnings results on Wednesday, October 27th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Atlassian had a negative net margin of 47.91% and a positive return on equity of 12.63%. The business had revenue of $516.01 million for the quarter, compared to analysts’ expectations of $585.64 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Atlassian Co. Plc will post 0.16 EPS for the current fiscal year.
Atlassian Company Profile
Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include Jira software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.
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