Laurel Wealth Advisors Inc. raised its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,416 shares of the technology company’s stock after acquiring an additional 90 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Atlassian were worth $2,148,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Aperio Group LLC boosted its position in Atlassian by 8.3% during the second quarter. Aperio Group LLC now owns 43,656 shares of the technology company’s stock valued at $5,712,000 after acquiring an additional 3,357 shares during the last quarter. Concorde Asset Management LLC bought a new position in Atlassian during the second quarter worth $1,034,000. State Board of Administration of Florida Retirement System boosted its stake in Atlassian by 7.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 129,523 shares of the technology company’s stock worth $14,557,000 after acquiring an additional 8,490 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in Atlassian during the first quarter worth $46,574,000. Finally, Envestnet Asset Management Inc. boosted its stake in Atlassian by 15.2% during the second quarter. Envestnet Asset Management Inc. now owns 11,437 shares of the technology company’s stock worth $1,496,000 after acquiring an additional 1,507 shares in the last quarter. 87.85% of the stock is currently owned by institutional investors and hedge funds.
TEAM has been the topic of several research analyst reports. Zacks Investment Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Canaccord Genuity raised their price objective 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 lowered shares of Atlassian from a “buy” rating to a “neutral” rating and set a $126.00 price objective on the stock. in a research note on Wednesday, May 29th. Morgan Stanley raised shares of Atlassian from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $99.00 to $145.00 in a research note on Thursday, May 23rd. Finally, DA Davidson raised their price objective on shares of Atlassian to $155.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $138.27.
Atlassian (NASDAQ:TEAM) last announced 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 the consensus estimate of $330.60 million. Atlassian had a negative net margin of 52.69% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, equities analysts forecast that Atlassian Co. PLC will post 0.09 earnings per share for the current 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.
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).
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.