Robeco Institutional Asset Management B.V. reduced its holdings in Atlassian Co. PLC (NASDAQ:TEAM) by 53.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,629 shares of the technology company’s stock after selling 39,098 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Atlassian were worth $4,047,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Atlassian by 9.2% during the 4th quarter. State Street Corp now owns 1,282,888 shares of the technology company’s stock valued at $154,383,000 after acquiring an additional 108,091 shares in the last quarter. Lyell Wealth Management LP raised its position in Atlassian by 2.8% in the fourth quarter. Lyell Wealth Management LP now owns 37,497 shares of the technology company’s stock valued at $4,512,000 after purchasing an additional 1,013 shares during the period. Rhumbline Advisers lifted its stake in shares of Atlassian by 12.5% during the fourth quarter. Rhumbline Advisers now owns 110,067 shares of the technology company’s stock worth $13,245,000 after purchasing an additional 12,246 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Atlassian by 2.6% during the fourth quarter. New York State Common Retirement Fund now owns 451,670 shares of the technology company’s stock worth $54,354,000 after purchasing an additional 11,434 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Atlassian by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 11,356 shares of the technology company’s stock worth $1,367,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Bank of America increased their target price on Atlassian from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Co initiated coverage on Atlassian in a research report on Monday, January 27th. They set an “overweight” rating and a $180.00 price target on the stock. Morgan Stanley restated a “buy” rating and issued a $175.00 price target on shares of Atlassian in a report on Sunday, January 26th. Cleveland Research began coverage on shares of Atlassian in a research report on Friday, December 20th. They issued a “buy” rating and a $132.00 price objective for the company. Finally, KeyCorp lifted their price objective on shares of Atlassian from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $154.67.
Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. The business had revenue of $408.70 million during the quarter, compared to the consensus estimate of $389.43 million. Atlassian had a negative net margin of 17.44% and a positive return on equity of 0.68%. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, analysts anticipate that Atlassian Co. PLC will post 0.14 earnings per share for the current fiscal year.
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.
Further Reading: Diversification
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