Castle Rock Wealth Management LLC boosted its holdings in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,488 shares of the technology company’s stock after buying an additional 211 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Atlassian were worth $459,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of TEAM. BlackRock Inc. lifted its stake in Atlassian by 24.8% during the 1st quarter. BlackRock Inc. now owns 3,197,364 shares of the technology company’s stock valued at $359,352,000 after acquiring an additional 636,089 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 54.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,144,350 shares of the technology company’s stock worth $412,036,000 after purchasing an additional 1,113,490 shares during the period. Pendal Group Ltd purchased a new stake in shares of Atlassian during the 2nd quarter worth about $347,020,000. Acadian Asset Management LLC grew its holdings in shares of Atlassian by 13.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,057,732 shares of the technology company’s stock worth $138,395,000 after purchasing an additional 125,902 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in shares of Atlassian by 0.3% during the 1st quarter. OppenheimerFunds Inc. now owns 771,005 shares of the technology company’s stock worth $86,653,000 after purchasing an additional 1,969 shares during the period. 87.85% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Canaccord Genuity boosted their target price on Atlassian from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price target on Atlassian from $105.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Bank of America restated a “neutral” rating and set a $147.00 price objective (up from $138.00) on shares of Atlassian in a research note on Friday, July 26th. BTIG Research downgraded Atlassian from a “buy” rating to a “neutral” rating and set a $126.00 price objective for the company. in a research note on Wednesday, May 29th. Finally, Robert W. Baird upped their price objective on Atlassian from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $138.27.
TEAM stock traded up $1.37 during midday trading on Friday, reaching $126.88. 7,514 shares of the company’s stock traded hands, compared to its average volume of 1,362,957. The company has a 50-day simple moving average of $138.79 and a two-hundred day simple moving average of $124.88. The company has a market cap of $14.97 billion, a price-to-earnings ratio of -745.32, a PEG ratio of 88.56 and a beta of 1.33. Atlassian Co. PLC has a 1-year low of $65.17 and a 1-year high of $149.80.
Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, July 25th. The technology company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.26. The company had revenue of $334.59 million during the quarter, compared to analysts’ expectations of $330.60 million. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. On average, sell-side analysts anticipate that Atlassian Co. PLC will post 0.09 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.
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