Paloma Partners Management Co bought a new stake in Atlassian Co. PLC (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 61,169 shares of the technology company’s stock, valued at approximately $2,785,000.
Several other large investors also recently added to or reduced their stakes in TEAM. Tower Research Capital LLC TRC bought a new stake in shares of Atlassian during the fourth quarter worth approximately $116,000. Nelson Roberts Investment Advisors LLC bought a new stake in shares of Atlassian during the fourth quarter worth approximately $123,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of Atlassian by 50.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,165 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Atlassian during the fourth quarter worth approximately $201,000. Finally, California Public Employees Retirement System bought a new stake in shares of Atlassian during the third quarter worth approximately $207,000. 88.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Atlassian Co. PLC (TEAM) opened at $59.83 on Wednesday. Atlassian Co. PLC has a 12 month low of $28.73 and a 12 month high of $62.25.
Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 18th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Atlassian had a negative return on equity of 4.00% and a negative net margin of 15.85%. The business had revenue of $212.63 million for the quarter, compared to the consensus estimate of $204.40 million. equities analysts anticipate that Atlassian Co. PLC will post -0.08 EPS for the current year.
A number of equities research analysts have recently issued reports on TEAM shares. Morgan Stanley set a $63.00 price objective on Atlassian and gave the stock a “buy” rating in a report on Friday, January 19th. Jefferies Group boosted their price objective on Atlassian to $64.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Canaccord Genuity restated a “buy” rating and set a $60.00 price objective (up previously from $52.00) on shares of Atlassian in a report on Wednesday, January 17th. Guggenheim restated a “hold” rating and set a $50.00 price objective on shares of Atlassian in a report on Friday, January 19th. Finally, BMO Capital Markets restated a “market perform” rating and set a $56.00 price objective (up previously from $51.00) on shares of Atlassian in a report on Friday, January 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Atlassian has an average rating of “Buy” and an average target price of $55.90.
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Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.
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