Emerald Acquisition Ltd. bought a new stake in Atlassian Corp. PLC (NASDAQ:TEAM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,243 shares of the company’s stock, valued at approximately $758,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEAM. Hershey Trust Co. purchased a new position in Atlassian Corp. PLC during the second quarter valued at $152,000. Barclays PLC increased its position in Atlassian Corp. PLC by 66.8% in the first quarter. Barclays PLC now owns 13,345 shares of the company’s stock valued at $334,000 after buying an additional 5,345 shares during the period. Aberdeen Asset Management PLC UK purchased a new position in Atlassian Corp. PLC during the second quarter valued at $349,000. Quadrature Capital Ltd purchased a new position in Atlassian Corp. PLC during the first quarter valued at $439,000. Finally, Marsico Capital Management LLC increased its position in Atlassian Corp. PLC by 49.1% in the first quarter. Marsico Capital Management LLC now owns 29,829 shares of the company’s stock valued at $750,000 after buying an additional 9,829 shares during the period. 65.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Atlassian Corp. PLC (NASDAQ:TEAM) traded up 1.18% during mid-day trading on Friday, hitting $28.38. 131,582 shares of the stock were exchanged. The firm has a 50-day moving average price of $29.67 and a 200 day moving average price of $26.54. The company has a market capitalization of $6.14 billion and a PE ratio of 1351.43. Atlassian Corp. PLC has a 12-month low of $16.92 and a 12-month high of $35.16.
Atlassian Corp. PLC (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company earned $127.60 million during the quarter, compared to analysts’ expectations of $124.26 million. Atlassian Corp. PLC had a return on equity of 1.52% and a net margin of 0.96%. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. On average, equities research analysts expect that Atlassian Corp. PLC will post $0.33 earnings per share for the current year.
Several research analysts have recently weighed in on TEAM shares. JMP Securities reissued a “buy” rating on shares of Atlassian Corp. PLC in a research report on Friday, September 2nd. Summit Redstone started coverage on shares of Atlassian Corp. PLC in a report on Tuesday, August 16th. They set a “buy” rating and a $35.00 price target for the company. Jefferies Group raised their price target on shares of Atlassian Corp. PLC from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Canaccord Genuity raised their price target on shares of Atlassian Corp. PLC from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. set a $35.00 price target on shares of Atlassian Corp. PLC and gave the stock a “buy” rating in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.43.
Atlassian Corp. PLC Company Profile
Atlassian Corporation Plc is engaged in designing, developing, licensing and maintaining of software, and the provisioning of software hosting services. The Company’s products include JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team services and support applications.
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