Fulton Bank N.A. trimmed its position in shares of Atlassian Co. Plc (NASDAQ:TEAM – Get Rating) by 33.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,198 shares of the technology company’s stock after selling 597 shares during the quarter. Fulton Bank N.A.’s holdings in Atlassian were worth $225,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Bank of New Hampshire bought a new position in shares of Atlassian during the first quarter valued at about $26,000. Core Alternative Capital raised its stake in shares of Atlassian by 1,383.3% during the first quarter. Core Alternative Capital now owns 89 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Atlassian by 2,475.0% during the first quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. IndexIQ Advisors LLC bought a new position in shares of Atlassian during the first quarter valued at about $30,000. Finally, Riverview Trust Co bought a new position in shares of Atlassian during the first quarter valued at about $32,000. 87.29% of the stock is owned by institutional investors.
Analyst Ratings Changes
TEAM has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $279.00 to $300.00 in a research note on Monday, June 27th. Robert W. Baird decreased their price target on shares of Atlassian from $520.00 to $380.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Wolfe Research increased their price target on shares of Atlassian from $240.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. KeyCorp decreased their price target on shares of Atlassian from $338.00 to $278.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Finally, Cowen decreased their price target on shares of Atlassian from $285.00 to $245.00 in a research note on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $327.42.
Atlassian Stock Performance
Atlassian (NASDAQ:TEAM – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.13). Atlassian had a negative net margin of 21.91% and a negative return on equity of 98.61%. The firm had revenue of $759.80 million for the quarter, compared to analysts’ expectations of $724.28 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Co. Plc will post -0.92 earnings per share for the current year.
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.
- Get a free copy of the StockNews.com research report on Atlassian (TEAM)
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