Atlassian Co. PLC (NASDAQ:TEAM) traded down 5.8% during trading on Tuesday . The stock traded as low as $44.27 and last traded at $44.28. 1,709,300 shares changed hands during mid-day trading, an increase of 126% from the average session volume of 755,377 shares. The stock had previously closed at $47.01.
Several equities research analysts have commented on the company. Zacks Investment Research lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. Summit Redstone restated a “buy” rating on shares of Atlassian in a research report on Thursday, October 19th. Robert W. Baird upped their price objective on Atlassian from $43.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. BMO Capital Markets upped their price objective on Atlassian to $51.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Oppenheimer upped their price objective on Atlassian to $50.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.20.
Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. Atlassian had a negative return on equity of 2.11% and a negative net margin of 7.96%. The business had revenue of $193.80 million during the quarter, compared to the consensus estimate of $185.78 million. During the same period in the prior year, the company posted $0.10 EPS. The business’s quarterly revenue was up 41.7% on a year-over-year basis. equities research analysts expect that Atlassian Co. PLC will post -0.13 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Janus Henderson Group PLC acquired a new position in Atlassian in the 2nd quarter valued at $251,088,000. FMR LLC increased its stake in shares of Atlassian by 148.8% in the 2nd quarter. FMR LLC now owns 5,448,713 shares of the technology company’s stock worth $191,686,000 after acquiring an additional 3,258,877 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Atlassian by 28.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock worth $265,139,000 after acquiring an additional 1,668,292 shares during the last quarter. State Street Corp increased its stake in shares of Atlassian by 79.5% in the 2nd quarter. State Street Corp now owns 995,220 shares of the technology company’s stock worth $35,012,000 after acquiring an additional 440,847 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Atlassian by 3,340.5% in the 2nd quarter. Wells Fargo & Company MN now owns 365,104 shares of the technology company’s stock worth $12,844,000 after acquiring an additional 354,492 shares during the last quarter. 80.99% of the stock is owned by hedge funds and other institutional investors.
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Atlassian Company Profile
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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