Tocqueville Asset Management L.P. purchased a new stake in Atlassian Co. PLC (NASDAQ:TEAM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,000 shares of the technology company’s stock, valued at approximately $319,000.
A number of other institutional investors also recently modified their holdings of TEAM. Artisan Partners Limited Partnership boosted its holdings in Atlassian by 28.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock valued at $265,139,000 after purchasing an additional 1,668,292 shares during the period. Renaissance Technologies LLC boosted its holdings in Atlassian by 52.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,153,200 shares of the technology company’s stock valued at $98,014,000 after purchasing an additional 737,658 shares during the period. BlackRock Inc. raised its stake in shares of Atlassian by 31.9% in the 4th quarter. BlackRock Inc. now owns 2,193,451 shares of the technology company’s stock valued at $99,846,000 after buying an additional 530,523 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $8,215,000. Finally, OppenheimerFunds Inc. acquired a new position in shares of Atlassian in the 4th quarter valued at $7,909,000. 88.35% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on TEAM shares. Jefferies Group increased their price objective on shares of Atlassian to $64.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Morgan Stanley set a $63.00 price objective on shares of Atlassian and gave the company a “buy” rating in a research note on Friday, January 19th. BMO Capital Markets restated a “market perform” rating and issued a $56.00 price objective (up previously from $51.00) on shares of Atlassian in a research note on Friday, January 19th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $60.00 price objective (up previously from $52.00) on shares of Atlassian in a research note on Wednesday, January 17th. Finally, Oppenheimer increased their price objective on shares of Atlassian to $58.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.90.
Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $212.63 million for the quarter, compared to analyst estimates of $204.40 million. Atlassian had a negative return on equity of 4.00% and a negative net margin of 15.85%. equities research analysts expect that Atlassian Co. PLC will post -0.08 earnings per share for the current year.
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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