Wedbush Securities Inc. lessened its holdings in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 3.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,561 shares of the technology company’s stock after selling 335 shares during the quarter. Wedbush Securities Inc.’s holdings in Atlassian were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Winslow Evans & Crocker Inc. purchased a new position in shares of Atlassian during the 1st quarter worth $34,000. CWM LLC purchased a new position in shares of Atlassian during the 2nd quarter worth $43,000. Kwmg LLC purchased a new position in shares of Atlassian during the 1st quarter worth $50,000. Duncker Streett & Co. Inc. purchased a new position in shares of Atlassian during the 1st quarter worth $51,000. Finally, First Mercantile Trust Co. purchased a new position in shares of Atlassian during the 1st quarter valued at $56,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
A number of research analysts recently weighed in on TEAM shares. Zacks Investment Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Canaccord Genuity lifted their target price on shares of Atlassian from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 26th. BTIG Research cut shares of Atlassian from a “buy” rating to a “neutral” rating and set a $126.00 target price on the stock. in a research note on Wednesday, May 29th. Deutsche Bank lifted their target price on shares of Atlassian from $114.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, June 13th. Finally, Morgan Stanley upgraded shares of Atlassian from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $99.00 to $145.00 in a research note on Thursday, May 23rd. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $138.27.
TEAM stock traded down $8.28 during mid-day trading on Wednesday, hitting $138.42. The company had a trading volume of 39,625 shares, compared to its average volume of 1,616,472. The company has a market capitalization of $15.26 billion, a P/E ratio of -826.06, a price-to-earnings-growth ratio of 105.75 and a beta of 1.30. Atlassian Co. PLC has a 12-month low of $65.17 and a 12-month high of $149.80. The company has a quick ratio of 3.34, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. The firm’s 50-day moving average price is $137.68.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.26. The business had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $330.60 million. Atlassian had a negative net margin of 52.69% and a negative return on equity of 2.45%. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. On average, research analysts forecast that Atlassian Co. PLC will post 0.09 earnings per share for the current fiscal year.
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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