Atlassian Corp. PLC (NASDAQ:TEAM) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,867,119 shares, a decline of 23.3% from the September 15th total of 3,739,658 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 822,579 shares, the days-to-cover ratio is presently 3.5 days.

TEAM has been the subject of a number of analyst reports. JMP Securities reiterated a “buy” rating on shares of Atlassian Corp. PLC in a research note on Friday, September 2nd. Cowen and Company began coverage on shares of Atlassian Corp. PLC in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $36.00 price target on the stock. BTIG Research lowered shares of Atlassian Corp. PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 10th. Summit Redstone reissued a “buy” rating and issued a $35.00 price target on shares of Atlassian Corp. PLC in a research report on Tuesday, August 16th. Finally, Jefferies Group lifted their price target on shares of Atlassian Corp. PLC from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Atlassian Corp. PLC has a consensus rating of “Buy” and a consensus target price of $33.43.

Atlassian Corp. PLC (NASDAQ:TEAM) opened at 28.42 on Friday. Atlassian Corp. PLC has a 12 month low of $16.92 and a 12 month high of $35.16. The company has a market cap of $6.15 billion and a price-to-earnings ratio of 1353.33. The company’s 50-day moving average is $29.66 and its 200-day moving average is $26.57.

Atlassian Corp. PLC (NASDAQ:TEAM) last posted its earnings results on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Atlassian Corp. PLC had a return on equity of 1.52% and a net margin of 0.96%. The business earned $127.60 million during the quarter, compared to analysts’ expectations of $124.26 million. Atlassian Corp. PLC’s revenue was up 39.0% on a year-over-year basis. On average, equities research analysts anticipate that Atlassian Corp. PLC will post $0.33 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Atlassian Corp. PLC by 482.1% in the second quarter. Royal Bank of Canada now owns 4,139 shares of the company’s stock worth $107,000 after buying an additional 3,428 shares during the period. Hershey Trust Co. purchased a new position in Atlassian Corp. PLC during the second quarter worth $152,000. BlackRock Inc. increased its position in Atlassian Corp. PLC by 137.0% in the second quarter. BlackRock Inc. now owns 7,996 shares of the company’s stock worth $207,000 after buying an additional 4,622 shares during the period. Trexquant Investment LP purchased a new position in Atlassian Corp. PLC during the second quarter worth $235,000. Finally, Thompson Davis & CO. Inc. increased its position in Atlassian Corp. PLC by 1,156.3% in the second quarter. Thompson Davis & CO. Inc. now owns 10,050 shares of the company’s stock worth $260,000 after buying an additional 9,250 shares during the period. 65.07% of the stock is owned by institutional investors and hedge funds.

About Atlassian Corp. PLC

Atlassian Corporation Plc is engaged in designing, developing, licensing and maintaining of software, and the provisioning of software hosting services. The Company’s products include JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team services and support applications.

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