Avestar Capital LLC Has $504,000 Stake in Atlassian Co. PLC (TEAM)

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Avestar Capital LLC cut its holdings in Atlassian Co. PLC (NASDAQ:TEAM) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,492 shares of the technology company’s stock after selling 2,530 shares during the period. Avestar Capital LLC’s holdings in Atlassian were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TEAM. Parallel Advisors LLC acquired a new stake in shares of Atlassian during the fourth quarter worth about $25,000. Winslow Evans & Crocker Inc. acquired a new stake in shares of Atlassian during the first quarter worth about $34,000. Kwmg LLC acquired a new stake in shares of Atlassian during the first quarter worth about $50,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Atlassian during the first quarter worth about $51,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Atlassian during the first quarter worth about $56,000. Institutional investors own 90.80% of the company’s stock.

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

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Wednesday, April 17th. The technology company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.26). The business had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The company’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Analysts predict that Atlassian Co. PLC will post 0.03 earnings per share for the current fiscal year.

TEAM has been the topic of a number of research analyst reports. Zacks Investment Research cut Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Deutsche Bank initiated coverage on Atlassian in a research report on Wednesday, February 27th. They set a “hold” rating and a $114.00 target price on the stock. KeyCorp lifted their target price on Atlassian from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Mizuho raised their price target on Atlassian from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, BMO Capital Markets raised their price target on Atlassian from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $118.80.

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Atlassian 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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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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