TD Asset Management Inc. Cuts Stake in Atlassian Co. PLC (TEAM)

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TD Asset Management Inc. lowered its holdings in Atlassian Co. PLC (NASDAQ:TEAM) by 11.2% during the first quarter, HoldingsChannel.com reports. The fund owned 166,550 shares of the technology company’s stock after selling 21,000 shares during the quarter. TD Asset Management Inc.’s holdings in Atlassian were worth $18,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in TEAM. Norges Bank acquired a new stake in shares of Atlassian in the fourth quarter worth $79,863,000. Hsbc Holdings PLC increased its stake in shares of Atlassian by 441.0% in the fourth quarter. Hsbc Holdings PLC now owns 797,630 shares of the technology company’s stock worth $70,973,000 after acquiring an additional 650,185 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Atlassian by 98.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,157,170 shares of the technology company’s stock worth $102,965,000 after acquiring an additional 573,892 shares during the period. CI Investments Inc. acquired a new stake in shares of Atlassian in the fourth quarter worth $41,235,000. Finally, 1832 Asset Management L.P. grew its position in Atlassian by 33.3% during the fourth quarter. 1832 Asset Management L.P. now owns 1,202,100 shares of the technology company’s stock valued at $105,130,000 after buying an additional 300,044 shares during the period. Hedge funds and other institutional investors own 90.80% of the company’s stock.

TEAM opened at $129.52 on Friday. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of -1,850.29, a P/E/G ratio of 198.75 and a beta of 1.77. Atlassian Co. PLC has a 52-week low of $60.39 and a 52-week high of $131.99.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Wednesday, April 17th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.26). The company had revenue of $309.30 million for the quarter, compared to analysts’ expectations of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, research analysts anticipate that Atlassian Co. PLC will post 0.03 earnings per share for the current fiscal year.

TEAM has been the topic of several analyst reports. BidaskClub upgraded shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Zacks Investment Research lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Robert W. Baird raised their price target on shares of Atlassian from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. BTIG Research raised their price target on shares of Atlassian to $125.00 and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Jefferies Financial Group raised their price target on shares of Atlassian from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $118.80.

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About Atlassian

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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Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. PLC (NASDAQ:TEAM).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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