Monetary Management Group Inc. Acquires 75 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

Monetary Management Group Inc. raised its stake in shares of Atlassian Co. Plc (NASDAQ:TEAM) by 35.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 285 shares of the technology company’s stock after buying an additional 75 shares during the quarter. Monetary Management Group Inc.’s holdings in Atlassian were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,379,591 shares of the technology company’s stock worth $2,819,883,000 after buying an additional 554,314 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Atlassian by 10.1% in the 2nd quarter. Jennison Associates LLC now owns 6,894,373 shares of the technology company’s stock valued at $1,770,889,000 after acquiring an additional 630,157 shares during the last quarter. Sands Capital Management LLC lifted its holdings in shares of Atlassian by 7.8% in the 1st quarter. Sands Capital Management LLC now owns 5,504,278 shares of the technology company’s stock valued at $1,160,082,000 after acquiring an additional 397,769 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Atlassian by 1.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 5,233,001 shares of the technology company’s stock valued at $1,344,149,000 after acquiring an additional 68,402 shares during the last quarter. Finally, BlackRock Inc. raised its position in Atlassian by 1.7% in the 2nd quarter. BlackRock Inc. now owns 4,012,513 shares of the technology company’s stock worth $1,030,656,000 after purchasing an additional 68,826 shares during the period. Hedge funds and other institutional investors own 85.92% of the company’s stock.

A number of brokerages have recently commented on TEAM. Robert W. Baird raised their target price on shares of Atlassian from $345.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 8th. Truist boosted their target price on shares of Atlassian from $270.00 to $400.00 and gave the company a “hold” rating in a research report on Friday. They noted that the move was a valuation call. Truist Securities boosted their target price on shares of Atlassian from $270.00 to $400.00 and gave the company a “hold” rating in a research report on Friday. Piper Sandler lifted their price objective on shares of Atlassian from $259.00 to $308.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Finally, Morgan Stanley boosted their target price on shares of Atlassian from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $314.11.

Shares of TEAM opened at $391.89 on Tuesday. The company has a 50-day simple moving average of $348.77 and a 200-day simple moving average of $275.60. The company has a market capitalization of $53.81 billion, a PE ratio of -139.96, a P/E/G ratio of 62.83 and a beta of 0.84. Atlassian Co. Plc has a 52-week low of $176.42 and a 52-week high of $420.23.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Wednesday, July 28th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. Atlassian had a negative net margin of 33.33% and a positive return on equity of 10.09%. The business had revenue of $559.54 million during the quarter, compared to the consensus estimate of $521.61 million. As a group, equities analysts forecast that Atlassian Co. Plc will post 0.29 EPS for the current fiscal year.

Atlassian Company Profile

Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include Jira software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.

Featured Article: What are popular green investing opportunities?

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)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.