Verition Fund Management LLC Takes Position in Atlassian Co. PLC (TEAM)

Verition Fund Management LLC purchased a new stake in shares of Atlassian Co. PLC (NASDAQ:TEAM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,396 shares of the technology company’s stock, valued at approximately $1,065,000.

Several other hedge funds have also recently made changes to their positions in TEAM. Tower Research Capital LLC TRC bought a new position in shares of Atlassian during the fourth quarter worth about $116,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of Atlassian during the fourth quarter worth about $123,000. Public Employees Retirement Association of Colorado raised its position in shares of Atlassian by 50.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,165 shares during the last quarter. Elkfork Partners LLC bought a new position in shares of Atlassian during the fourth quarter worth about $183,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Atlassian during the fourth quarter worth about $201,000. 88.35% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts have recently issued reports on the company. Robert W. Baird restated a “buy” rating and set a $65.00 price objective on shares of Atlassian in a research report on Friday. Zacks Investment Research downgraded Atlassian from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Guggenheim restated a “hold” rating and set a $50.00 price objective on shares of Atlassian in a research report on Friday, January 19th. Morgan Stanley set a $63.00 price objective on Atlassian and gave the stock a “buy” rating in a research report on Friday, January 19th. Finally, BMO Capital Markets restated a “market perform” rating and set a $56.00 price objective (up from $51.00) on shares of Atlassian in a research report on Friday, January 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $57.40.

Shares of Atlassian Co. PLC (NASDAQ TEAM) opened at $59.26 on Friday. Atlassian Co. PLC has a 1-year low of $28.75 and a 1-year high of $62.25.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 18th. The technology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). The business had revenue of $212.63 million during the quarter, compared to the consensus estimate of $204.40 million. Atlassian had a negative return on equity of 4.00% and a negative net margin of 15.85%. analysts anticipate that Atlassian Co. PLC will post -0.08 EPS for the current fiscal year.

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Atlassian Company Profile

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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