Russell Investments Group Ltd. decreased its holdings in shares of Atlassian Co. Plc (NASDAQ:TEAM – Get Rating) by 45.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,939 shares of the technology company’s stock after selling 40,036 shares during the period. Russell Investments Group Ltd.’s holdings in Atlassian were worth $14,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nvwm LLC lifted its position in shares of Atlassian by 142.9% during the 4th quarter. Nvwm LLC now owns 85 shares of the technology company’s stock valued at $32,000 after buying an additional 50 shares in the last quarter. Bank of New Hampshire acquired a new position in Atlassian in the 1st quarter valued at $26,000. CWM LLC acquired a new position in Atlassian in the 4th quarter valued at $35,000. Addison Advisors LLC raised its stake in Atlassian by 2,475.0% in the 1st quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Atlassian in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 91.33% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. KeyCorp reduced their price objective on Atlassian from $338.00 to $278.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Sanford C. Bernstein assumed coverage on Atlassian in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $257.00 price objective for the company. Piper Sandler reduced their price objective on Atlassian from $371.00 to $249.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Mizuho cut their target price on Atlassian from $500.00 to $360.00 in a research note on Monday, May 16th. Finally, The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the stock from $279.00 to $300.00 in a research note on Monday, June 27th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $342.16.
Atlassian Stock Performance
Shares of Atlassian stock opened at $230.41 on Friday. The business has a 50-day moving average of $195.18 and a 200 day moving average of $242.47. Atlassian Co. Plc has a 12 month low of $159.54 and a 12 month high of $483.13. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of -80.28 and a beta of 1.01. The company has a debt-to-equity ratio of 3.30, a current ratio of 1.19 and a quick ratio of 1.19.
Atlassian (NASDAQ:TEAM – Get Rating) last announced its earnings results on Thursday, August 4th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Atlassian had a negative return on equity of 56.13% and a negative net margin of 27.73%. The company had revenue of $759.80 million during the quarter, compared to analysts’ expectations of $724.28 million. During the same period last year, the business posted ($0.06) EPS. Atlassian’s revenue for the quarter was up 35.8% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Co. Plc will post -0.36 earnings per share for the current year.
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.
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