Atlassian Co. PLC (NASDAQ:TEAM) shares gapped down before the market opened on Friday . The stock had previously closed at $57.89, but opened at $55.60. Atlassian shares last traded at $53.07, with a volume of 3658478 shares traded.
Several research analysts recently weighed in on TEAM shares. Zacks Investment Research cut shares of Atlassian from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Cowen restated an “outperform” rating and set a $55.00 price target (up from $47.00) on shares of Atlassian in a report on Friday, October 20th. Morgan Stanley set a $49.00 price target on shares of Atlassian and gave the stock a “buy” rating in a report on Friday, October 20th. JMP Securities boosted their price target on shares of Atlassian from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Finally, Robert W. Baird boosted their price target on shares of Atlassian from $43.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.80.
The firm has a market cap of $12,220.00 and a PE ratio of -221.13.
A number of hedge funds have recently made changes to their positions in the business. Artisan Partners Limited Partnership raised its position in Atlassian by 28.4% in the third quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock worth $265,139,000 after acquiring an additional 1,668,292 shares during the period. Janus Henderson Group PLC bought a new stake in Atlassian in the second quarter worth about $251,088,000. FMR LLC raised its position in Atlassian by 148.8% in the second quarter. FMR LLC now owns 5,448,713 shares of the technology company’s stock worth $191,686,000 after acquiring an additional 3,258,877 shares during the period. JPMorgan Chase & Co. raised its position in Atlassian by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 1,872,278 shares of the technology company’s stock worth $64,575,000 after acquiring an additional 9,462 shares during the period. Finally, Renaissance Technologies LLC raised its position in Atlassian by 25.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,800 shares of the technology company’s stock worth $37,424,000 after acquiring an additional 219,000 shares during the period. 80.97% of the stock is currently owned by institutional investors and hedge funds.
Atlassian Company Profile
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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