Atlassian Co. PLC (TEAM) Stake Increased by Aperio Group LLC

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Aperio Group LLC lifted its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 41.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,129 shares of the technology company’s stock after buying an additional 9,047 shares during the period. Aperio Group LLC’s holdings in Atlassian were worth $2,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEAM. Coastline Trust Co purchased a new stake in shares of Atlassian during the 3rd quarter worth $654,000. Bennicas & Associates Inc. purchased a new stake in shares of Atlassian during the 3rd quarter worth $296,000. Nisa Investment Advisors LLC purchased a new stake in shares of Atlassian during the 3rd quarter worth $2,170,000. Northern Trust Corp lifted its position in shares of Atlassian by 24.9% during the 2nd quarter. Northern Trust Corp now owns 230,089 shares of the technology company’s stock worth $14,385,000 after purchasing an additional 45,877 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Atlassian by 39.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,655,435 shares of the technology company’s stock worth $103,497,000 after purchasing an additional 471,860 shares during the last quarter. Institutional investors and hedge funds own 92.18% of the company’s stock.

Shares of Atlassian stock opened at $74.61 on Tuesday. Atlassian Co. PLC has a 52-week low of $43.11 and a 52-week high of $98.21. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.16. The stock has a market cap of $8.12 billion, a PE ratio of -1,065.86, a PEG ratio of 64.38 and a beta of 2.73.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 18th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Atlassian had a negative net margin of 36.71% and a negative return on equity of 0.75%. The business had revenue of $267.30 million for the quarter, compared to analyst estimates of $259.67 million. During the same period in the previous year, the business posted $0.12 earnings per share. The business’s revenue was up 36.7% compared to the same quarter last year. Equities analysts anticipate that Atlassian Co. PLC will post 0.09 earnings per share for the current fiscal year.

Several research firms have recently issued reports on TEAM. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Needham & Company LLC began coverage on shares of Atlassian in a research report on Monday, October 22nd. They set a “hold” rating for the company. They noted that the move was a valuation call. Morgan Stanley cut shares of Atlassian from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $75.00 to $94.00 in a research report on Thursday, October 4th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Cowen lifted their price objective on shares of Atlassian from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, September 13th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $82.91.

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About Atlassian

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: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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