O Shares Investment Advisers LLC decreased its holdings in Atlassian Co. PLC (NASDAQ:TEAM) by 35.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,988 shares of the technology company’s stock after selling 3,231 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Atlassian were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Atlassian by 24.8% in the first quarter. BlackRock Inc. now owns 3,197,364 shares of the technology company’s stock worth $359,352,000 after acquiring an additional 636,089 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Atlassian by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 2,030,860 shares of the technology company’s stock worth $228,249,000 after acquiring an additional 57,776 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Atlassian by 33.3% in the fourth quarter. 1832 Asset Management L.P. now owns 1,202,100 shares of the technology company’s stock worth $105,130,000 after acquiring an additional 300,044 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Atlassian by 98.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,157,170 shares of the technology company’s stock worth $102,965,000 after acquiring an additional 573,892 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Atlassian by 8.5% in the first quarter. Acadian Asset Management LLC now owns 931,830 shares of the technology company’s stock worth $104,727,000 after acquiring an additional 73,126 shares during the last quarter. Institutional investors own 92.43% of the company’s stock.

A number of analysts have weighed in on the stock. Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $115.00 to $125.00 in a report on Thursday, May 9th. BTIG Research raised their price objective on shares of Atlassian to $125.00 and gave the stock a “buy” rating in a report on Friday, February 15th. DA Davidson raised their price objective on shares of Atlassian to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Zacks Investment Research raised shares of Atlassian from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a report on Thursday, April 4th. Finally, Deutsche Bank assumed coverage on shares of Atlassian in a report on Wednesday, February 27th. They set a “hold” rating and a $114.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $118.87.

Shares of Atlassian stock traded up $1.43 during trading on Wednesday, reaching $130.36. The company’s stock had a trading volume of 37,111 shares, compared to its average volume of 1,750,338. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of -1,861.29, a PEG ratio of 208.07 and a beta of 1.39. Atlassian Co. PLC has a fifty-two week low of $60.39 and a fifty-two week high of $137.78. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.34 and a quick ratio of 3.34.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Wednesday, April 17th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Analysts anticipate that Atlassian Co. PLC will post 0.03 earnings per share for the current year.

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Atlassian Company 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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