California State Teachers Retirement System decreased its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 3.4% in the first quarter, HoldingsChannel reports. The firm owned 140,344 shares of the technology company’s stock after selling 4,920 shares during the quarter. California State Teachers Retirement System’s holdings in Atlassian were worth $7,567,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Citigroup Inc. purchased a new position in shares of Atlassian during the first quarter valued at about $103,000. Tower Research Capital LLC TRC purchased a new position in shares of Atlassian during the fourth quarter valued at about $116,000. Elkfork Partners LLC purchased a new position in shares of Atlassian during the fourth quarter valued at about $183,000. Parametrica Management Ltd purchased a new position in shares of Atlassian during the first quarter valued at about $202,000. Finally, Virtu Financial LLC purchased a new position in shares of Atlassian during the fourth quarter valued at about $209,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.
Atlassian opened at $62.52 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $6.05 billion, a P/E ratio of -2,084.00 and a beta of 2.34. Atlassian Co. PLC has a 12 month low of $33.16 and a 12 month high of $68.75.
Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 19th. The technology company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.13. The company had revenue of $223.70 million during the quarter, compared to analyst estimates of $218.79 million. Atlassian had a negative return on equity of 3.18% and a negative net margin of 14.19%. The firm’s revenue was up 39.9% on a year-over-year basis. During the same quarter last year, the business posted $0.08 earnings per share.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. DA Davidson assumed coverage on Atlassian in a research report on Wednesday, May 23rd. They issued a “buy” rating and a $74.00 price target for the company. Bank of America assumed coverage on Atlassian in a research report on Wednesday, May 30th. They issued a “neutral” rating and a $70.00 price target for the company. JMP Securities lowered Atlassian from an “outperform” rating to a “market perform” rating in a research report on Friday, April 20th. Finally, Canaccord Genuity lifted their price target on Atlassian from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 20th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Atlassian has a consensus rating of “Buy” and an average price target of $63.08.
Atlassian Company Profile
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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