Goldman Sachs Group Inc. grew its position in shares of Atlassian (NASDAQ:TEAM) by 100.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,608,212 shares of the technology company’s stock after purchasing an additional 806,469 shares during the period. Goldman Sachs Group Inc. owned 1.61% of Atlassian worth $73,206,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado boosted its position in shares of Atlassian by 50.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,165 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Atlassian by 2.9% in the fourth quarter. Alliancebernstein L.P. now owns 41,592 shares of the technology company’s stock worth $1,893,000 after acquiring an additional 1,170 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Atlassian by 3.9% in the third quarter. Macquarie Group Ltd. now owns 51,258 shares of the technology company’s stock worth $1,802,000 after acquiring an additional 1,904 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Atlassian by 36.4% in the fourth quarter. Guggenheim Capital LLC now owns 8,797 shares of the technology company’s stock worth $400,000 after acquiring an additional 2,348 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Atlassian in the fourth quarter worth approximately $116,000. 88.35% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on TEAM shares. Zacks Investment Research cut shares of Atlassian from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Morgan Stanley set a $63.00 target price on shares of Atlassian and gave the stock a “buy” rating in a research report on Friday, January 19th. Oppenheimer raised their target price on shares of Atlassian to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $60.00 target price (up from $52.00) on shares of Atlassian in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Atlassian has a consensus rating of “Buy” and a consensus target price of $57.40.
NASDAQ TEAM traded down $1.38 during mid-day trading on Friday, hitting $54.59. The company’s stock had a trading volume of 882,825 shares, compared to its average volume of 918,420. Atlassian has a 52-week low of $30.83 and a 52-week high of $62.25. The firm has a market capitalization of $5,574.56, a price-to-earnings ratio of -1,819.67 and a beta of 2.29.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 18th. The technology company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). Atlassian had a negative net margin of 15.85% and a negative return on equity of 4.00%. The business had revenue of $212.63 million during the quarter, compared to analysts’ expectations of $204.40 million. sell-side analysts anticipate that Atlassian will post -0.08 earnings per share for the current fiscal year.
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Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.
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