Atlassian Co. PLC (TEAM) Shares Sold by Murphy Capital Management Inc.

Murphy Capital Management Inc. lessened its holdings in Atlassian Co. PLC (NASDAQ:TEAM) by 37.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,850 shares of the technology company’s stock after selling 1,700 shares during the period. Murphy Capital Management Inc.’s holdings in Atlassian were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Artisan Partners Limited Partnership boosted its stake in shares of Atlassian by 27.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 10,257,648 shares of the technology company’s stock worth $641,308,000 after buying an additional 2,198,491 shares during the last quarter. FMR LLC lifted its stake in Atlassian by 14.1% in the second quarter. FMR LLC now owns 9,000,442 shares of the technology company’s stock valued at $562,708,000 after purchasing an additional 1,112,999 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Atlassian by 0.7% in the second quarter. Janus Henderson Group PLC now owns 7,071,287 shares of the technology company’s stock valued at $442,097,000 after purchasing an additional 51,133 shares during the last quarter. BlackRock Inc. lifted its stake in Atlassian by 2.3% in the first quarter. BlackRock Inc. now owns 2,244,216 shares of the technology company’s stock valued at $121,008,000 after purchasing an additional 50,765 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Atlassian by 39.9% in 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 purchasing an additional 471,860 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Several equities analysts recently commented on TEAM shares. 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. 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. 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. Canaccord Genuity reiterated a “buy” rating and issued a $85.00 price objective (up previously from $65.00) on shares of Atlassian in a research note on Friday, July 27th. Finally, DA Davidson upped their price objective on Atlassian to $88.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Atlassian currently has a consensus rating of “Buy” and a consensus target price of $79.92.

NASDAQ:TEAM opened at $81.71 on Friday. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of -1,158.43, a P/E/G ratio of 73.67 and a beta of 2.58. Atlassian Co. PLC has a 1 year low of $39.06 and a 1 year high of $98.21. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 0.92.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, July 26th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $243.80 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.09 earnings per share. On average, analysts predict that Atlassian Co. PLC will post 0.1 earnings per share for the current fiscal year.

Atlassian Company Profile

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.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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