Raymond James & Associates increased its holdings in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 16.7% in the fourth quarter, Holdings Channel reports. The firm owned 102,661 shares of the technology company’s stock after buying an additional 14,689 shares during the period. Raymond James & Associates’ holdings in Atlassian were worth $9,135,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Parallel Advisors LLC purchased a new position in shares of Atlassian in the 4th quarter valued at about $25,000. Cornerstone Advisors Inc. purchased a new position in shares of Atlassian in the 4th quarter valued at about $29,000. Meeder Asset Management Inc. purchased a new position in shares of Atlassian in the 4th quarter valued at about $50,000. Financial Architects Inc boosted its stake in shares of Atlassian by 159.1% in the 4th quarter. Financial Architects Inc now owns 570 shares of the technology company’s stock valued at $51,000 after buying an additional 350 shares during the period. Finally, WealthTrust Arizona LLC boosted its stake in shares of Atlassian by 23.4% in the 4th quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock valued at $52,000 after buying an additional 110 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:TEAM opened at $109.51 on Tuesday. The company has a market capitalization of $11.63 billion, a PE ratio of -1,564.43, a P/E/G ratio of 94.50 and a beta of 1.85. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.02. Atlassian Co. PLC has a 12-month low of $50.84 and a 12-month high of $111.76.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 17th. The technology company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.15). Atlassian had a negative net margin of 22.96% and a positive return on equity of 3.01%. The business had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $288.28 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities analysts predict that Atlassian Co. PLC will post 0.08 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. Deutsche Bank assumed coverage on Atlassian in a research note on Wednesday, February 27th. They issued a “hold” rating and a $114.00 price objective for the company. Oppenheimer lifted their price target on Atlassian from $95.00 to $110.00 in a research report on Friday, January 18th. DA Davidson lifted their price target on Atlassian to $118.00 and gave the stock a “buy” rating in a research report on Friday, January 18th. BTIG Research raised Atlassian from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, Robert W. Baird lifted their price target on Atlassian from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, January 18th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.92.
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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.
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