Atlassian Co. Plc (NASDAQ:TEAM) Position Cut by Next Century Growth Investors LLC

Next Century Growth Investors LLC trimmed its holdings in Atlassian Co. Plc (NASDAQ:TEAM) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,502 shares of the technology company’s stock after selling 215 shares during the quarter. Next Century Growth Investors LLC’s holdings in Atlassian were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SRS Capital Advisors Inc. bought a new position in Atlassian in the 2nd quarter worth approximately $25,000. MV Capital Management Inc. bought a new position in Atlassian during the 2nd quarter valued at $26,000. Lloyd Advisory Services LLC. boosted its stake in Atlassian by 45.7% during the 2nd quarter. Lloyd Advisory Services LLC. now owns 134 shares of the technology company’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. BerganKDV Wealth Management LLC boosted its stake in Atlassian by 48.5% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 153 shares of the technology company’s stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Finally, MUFG Americas Holdings Corp bought a new position in Atlassian during the 2nd quarter valued at $51,000. 85.92% of the stock is owned by institutional investors and hedge funds.

NASDAQ TEAM traded up $6.00 during trading hours on Thursday, hitting $413.04. The company’s stock had a trading volume of 2,866 shares, compared to its average volume of 1,281,318. The stock has a fifty day moving average of $373.48 and a 200 day moving average of $289.40. Atlassian Co. Plc has a twelve month low of $176.42 and a twelve month high of $420.23. The firm has a market capitalization of $56.71 billion, a P/E ratio of -145.37, a PEG ratio of 62.83 and a beta of 0.84.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Wednesday, July 28th. The technology company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $521.61 million. As a group, sell-side analysts anticipate that Atlassian Co. Plc will post 0.29 EPS for the current year.

TEAM has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Atlassian in a research report on Monday, August 30th. They set an “outperform” rating and a $400.00 price objective for the company. Morgan Stanley increased their target price on Atlassian from $292.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Wells Fargo & Company increased their target price on Atlassian from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Piper Sandler increased their target price on Atlassian from $259.00 to $308.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Finally, Mizuho boosted their price target on Atlassian from $370.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, October 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $318.00.

Atlassian 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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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